{"id":38596,"date":"2018-07-10T00:00:00","date_gmt":"2018-07-09T22:00:00","guid":{"rendered":"https:\/\/aebanca.es\/actualidad\/notas-de-prensa\/position-of-aeb-and-ceca-on-the-establishment-of-a-banking-tax-to-finance-pensions\/"},"modified":"2026-04-09T09:39:45","modified_gmt":"2026-04-09T07:39:45","slug":"position-of-aeb-and-ceca-on-the-establishment-of-a-banking-tax-to-finance-pensions","status":"publish","type":"notas-de-prensa","link":"https:\/\/aebanca.es\/en\/actualidad\/notas-de-prensa\/position-of-aeb-and-ceca-on-the-establishment-of-a-banking-tax-to-finance-pensions\/","title":{"rendered":"Position of AEB and CECA on the establishment of a banking tax to finance pensions"},"content":{"rendered":"

Increasing the tax burden on the financial sector would entail detrimental effects for the economy<\/strong><\/p>\n

The financial sector’s contribution to supporting public expenditure is higher than that of other sectors<\/strong><\/p>\n

In recent weeks, the media has reported that the Spanish Government is considering the creation of new levies on the financial sector with the aim of increasing state revenues and, in this way, financing the current deficit of the public pension system.<\/p>\n

While the objectives sought by these measures may be shared, the creation of new levies on banks does not constitute an adequate solution, because it would be unfair and would entail detrimental collateral effects for the Spanish economy in general.<\/p>\n

Thus, it is by no means reasonable to place the additional revenue needs of the pension system on a single business sector, especially considering that its weighting in the economy and in corporate profits is around 3%. If the solution to this problem requires increasing public revenues, all agents must contribute to funding it equitably. <\/p>\n

Additionally, the increase in the tax burden on the financial sector would create a competitive disadvantage for our entities at a European level, and would hinder the significant role this sector plays in economic and social terms, with particular impact on its contribution to employment and the development of economic activity through credit granting.<\/p>\n

It should be remembered that the financial sector has made considerable efforts in the past to facilitate the achievement of public deficit targets and that, furthermore, its contribution to supporting public expenditure is already higher than that of other sectors of activity (due to the existence, among other measures, of an increased corporate tax rate, a Tax on Deposits of Credit Institutions, or non-deductible input VAT quotas).<\/p>\n

Furthermore, it is necessary to point out that various requirements have been introduced at a European level from sectoral regulation within the framework of the banking union to strengthen the solvency of the financial system, notably contributions to the Deposit Guarantee Fund and the Resolution Fund, which represent a cost for the financial sector that affects results and, therefore, the dividends received by a broad retail shareholder base. The establishment of a sectoral tax would entail an additional overhead that would make access to the capital market even more difficult. <\/p>\n

Finally, the establishment of a singular levy on the sector could have lower revenue collection effects than intended and, nevertheless, negatively affect its solvency.<\/p>\n

Download the press release<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Increasing the tax burden on the financial sector would hinder the role it plays in economic and social progress, with particular impact on its contribution to employment and economic activity through credit granting. Likewise, it would mean a disadvantage for Spanish entities in the European context. <\/p>\n","protected":false},"featured_media":36023,"parent":0,"template":"","etiquetas-prensa":[800,914,913],"class_list":["post-38596","notas-de-prensa","type-notas-de-prensa","status-publish","has-post-thumbnail","hentry","etiquetas-prensa-aeb","etiquetas-prensa-pensions","etiquetas-prensa-taxes"],"yoast_head":"\nPosition of AEB and CECA on the establishment of a banking tax to finance pensions - Asociaci\u00f3n Espa\u00f1ola de Banca<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aebanca.es\/en\/actualidad\/notas-de-prensa\/position-of-aeb-and-ceca-on-the-establishment-of-a-banking-tax-to-finance-pensions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Position of AEB and CECA on the establishment of a banking tax to finance pensions - Asociaci\u00f3n Espa\u00f1ola de Banca\" \/>\n<meta property=\"og:description\" content=\"Increasing the tax burden on the financial sector would hinder the role it plays in economic and social progress, with particular impact on its contribution to employment and economic activity through credit granting. 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