Electricity companies receive more than half of the government tax on their electricity bills

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12/21/2021 The Vice-President and Minister of Environmental Transformation and the Demographic Challenge, Teresa Ribera, on tour after the Cabinet meeting, at the Moncloa Palace, on December 21, 2021, in Madrid (Spain). During their appearance, they reported on the agreements that had been ratified in the Council of Ministers. One of the novelties is the approval of an exceptional public job offer for 926 new jobs for the State Public Employment Service. Economic press Europe / E. Vine. SWIMMING POOL – European press

Madrid, 3 (Europe Press)

Electricity companies are taking advantage of more than half of the tax cuts granted by the government to reduce the electricity bill, estimated in its latest extension at around 2,000 million euros by the executive.

Concretely, the cuts from 21% to 10% of the value added tax and the special tax on electricity have been raised from 5.11% to 0.5%, the legal minimum, for the first four months of the year, and the suspension continued until March 31 of the 7% production tax paid by companies.

Of all this amount to be blocked, 1,050 million euros will be blocked due to the suspension for three more months of the tax on the value of energy production, the 7% tax that companies paid until its release. suspension. electricity

This is recognized by the government in the economic impact report accompanying the decree-law extending the tax cuts on electricity, but also on masks, considering measures to improve charging points for electric vehicles, the self-consumption and advocating for electric vehicle vacations. State public employment service (SEPE).

The extension reduces the group by nearly 2,000 million

In this document, consulted by Europa Press, the government sets the cost of public funds at 1967 million euros to extend the scope of the tax cuts approved to contain the increase in the cost of delivery, according to Agency estimates. State Tax Administration (AEAT).

The details of these discounts reveal that the extension of the value added tax fell to 10% during the first four months of the year for almost all domestic consumers for an amount of 459 million euros, according to a calculation made assuming prices similar to those observed during their application.

Similar effect to the application of four additional months of the minimum rate of 0.5% of the special tax on electricity, i.e. around 467 million euros compared to what would be paid in the event of a tax of 5, 11%.

The tax on the value of electrical energy is estimated from external sources where there is no direct information on the tax base and brings the tax reduction to 1,050 million euros, i.e. more double the other declines for a month less, because this forecast only covers the first three months of the year, not four.


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