With the beginning of the new year, the Official State Gazette (BOE) has published Royal Decree-Law 10/2024, of December 23, which establishes a temporary levy on the energy sector applicable throughout 2025. The aim of this regulation is to adjust the fiscal framework for major players in the energy sector, ensuring a greater contribution from large energy companies to the national economy.
Key Points of the Law
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Taxpayers
The temporary levy will apply exclusively to individuals or entities considered principal operators in the energy sectors, meaning companies with significant influence in the Spanish energy market. -
Exemptions
However, the law establishes two key exemptions, under which certain principal operators may be exempt from paying this levy:- Companies with lower turnover in 2019:
Principal operators whose net revenue (INCN) for the year 2019 was below €1 billion. - Dependence on non-energy revenues:
Operators whose INCN for the years 2017, 2018, and 2019 did not exceed 50% of their total INCN in each of those years. This means that diversified companies, with a majority of their income from activities outside the energy sector, will be excluded from the levy.
- Companies with lower turnover in 2019:
Expected Impact
Royal Decree-Law 10/2024 seeks to promote greater fairness in the energy sector’s tax contributions, focusing on large companies with higher revenues. At the same time, the inclusion of exemptions ensures that smaller companies and those with diversified activities are not unfairly affected.
With the implementation of this law, a significant contribution to public finances is expected, along with a fairer distribution of the fiscal burden among sectors with greater economic capacity.
Monitoring
We will continue to monitor the development of this regulation and its impact on the energy sector. If you are a principal operator or are involved in this sector, we encourage you to consult the full text of Royal Decree-Law 10/2024 in the BOE and seek expert tax advice to address any concerns or adjust your business strategy accordingly.
