MADRID (Reuters) - The Spanish government has issued a decree extending a temporary tax on energy companies into 2025, Prime Minister Pedro Sanchez said on Monday, after lawmakers voted last week to
Spanish Government Extends Energy Windfall Tax to 2025
MADRID (Reuters) - The Spanish government has issued a decree extending a temporary tax on energy companies into 2025, Prime Minister Pedro Sanchez said on Monday, after lawmakers voted last week to eliminate it.
The decree enters into force on Jan. 1, but it will need to be confirmed by parliament within 30 days in order to remain valid throughout next year as the monirity government intends - which may prove difficult to achieve as its partners to the left and right are at odds on the issue.
Utilities have warned that extending the levy, of 1.2% for companies with a turnover of at least 1 billion euros ($1.04 billion), would jeopardise 30 billion euros in renewable energy investments.
($1 = 0.9607 euros)
(Reporting by Emma Pinedo and David Latona. Editing by Andrei Khalip)
