The Sun Tax.
Apr 27th 2014, 11:04 pm
#1
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The Sun Tax.
http://www.thelocal.es/20140321/sun-tax-talk
What does the new law mean to an individual who invested in panels during the heyday of solar energy in Spain?
This depends on what stage of investment they were at, but at the very least they will lose all the money they have made.
There are thousands of families who spent all their savings and took out loans so they could invest in an industry which at the time seemed highly profitable.
But after the rule changes, including a tax on the energy they produce, they still have to pay bank back with interest and risk losing everything.
It’s like Bankia's preference shares scandal. Thousands of ordinary Spaniards were misled to believe they were putting their money into safe savings products. They were tricked and had their accounts emptied.
How about the current astronomical €60 million fines for people who don't pay a mandatory tax on the solar energy produce themselves (the so-called 'sun-tax)?
That relates to autoconsumo (generating your own electricity).
It's crazy to think that a nuclear plant which doesn't declare its gas emissions will be fined €30 million whereas an individual who doesn't pay tax on the power they've generated for themselves has to cough up €60 million (for serious infractions).
Even those who do pay the levy for powering their own homes have to know it now costs them more than if they were on the national grid.
It’s absurd and discriminatory.
What does the new law mean to an individual who invested in panels during the heyday of solar energy in Spain?
This depends on what stage of investment they were at, but at the very least they will lose all the money they have made.
There are thousands of families who spent all their savings and took out loans so they could invest in an industry which at the time seemed highly profitable.
But after the rule changes, including a tax on the energy they produce, they still have to pay bank back with interest and risk losing everything.
It’s like Bankia's preference shares scandal. Thousands of ordinary Spaniards were misled to believe they were putting their money into safe savings products. They were tricked and had their accounts emptied.
How about the current astronomical €60 million fines for people who don't pay a mandatory tax on the solar energy produce themselves (the so-called 'sun-tax)?
That relates to autoconsumo (generating your own electricity).
It's crazy to think that a nuclear plant which doesn't declare its gas emissions will be fined €30 million whereas an individual who doesn't pay tax on the power they've generated for themselves has to cough up €60 million (for serious infractions).
Even those who do pay the levy for powering their own homes have to know it now costs them more than if they were on the national grid.
It’s absurd and discriminatory.
Last edited by Dick Dasterdly; Apr 27th 2014 at 11:12 pm. Reason: add on
Apr 28th 2014, 4:09 pm
#2
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Re: The Sun Tax.
Somehow I can't imagine this could actually be decreed, and if it were, I would expect (hope) the EU would have something serious to say about it.
I've always said Spanish energy companies enjoy way too much political influence. In fact, if the government were doing their job (as our employee) they should to tell Endesa and the others that they've simply decided not to pay them a €26 billion windfall, and if they want to make more money, then they should find ways of becoming more competitive rather than punishing the population to get it.
I've always said Spanish energy companies enjoy way too much political influence. In fact, if the government were doing their job (as our employee) they should to tell Endesa and the others that they've simply decided not to pay them a €26 billion windfall, and if they want to make more money, then they should find ways of becoming more competitive rather than punishing the population to get it.
Apr 28th 2014, 8:58 pm
#3
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Posts: 6,903
Re: The Sun Tax.
Somehow I can't imagine this could actually be decreed, and if it were, I would expect (hope) the EU would have something serious to say about it.
I've always said Spanish energy companies enjoy way too much political influence. In fact, if the government were doing their job (as our employee) they should to tell Endesa and the others that they've simply decided not to pay them a €26 billion windfall, and if they want to make more money, then they should find ways of becoming more competitive rather than punishing the population to get it.
I've always said Spanish energy companies enjoy way too much political influence. In fact, if the government were doing their job (as our employee) they should to tell Endesa and the others that they've simply decided not to pay them a €26 billion windfall, and if they want to make more money, then they should find ways of becoming more competitive rather than punishing the population to get it.
