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SPAIN CONFISCATES 0.03% OF ALL BANK DEPOSITS FOR ECONOMIC GROWTH & JOB CREATION
(Libre Mercado) The government approved on Friday a decree-law that economic boost set at 0.03% tax on bank deposits in the whole of Spain , with a tribute that had some autonomous communities and the Executive spread throughout the Spanish territory in 2013 , but until now had a rate of 0%.
The announcement was the Deputy Prime Minister Soraya Saenz de Santamaria, following the meeting of the Council of Ministers , which has given the green light to this Decree and other standards for economic, according to the minister, boost economic growth and job creation .
The government introduced the bill in the State Budget for 2013 a tax on bank deposits to zero to clear those dues in the three communities that were applying (Extremadura, Andalusia and the Canary Islands), and later announced that it would establish a type very small in the whole of Spain to compensate for the collection of these three regions, levy had not noticed until this Friday.
According to the Government, the creation of the new state tax, you must pay financial institutions, seeks deposits from banks receive a uniform tax treatment and the financial system does not lose efficiency. The aim is therefore “promote and ensure” market unit, according to the executive.
LESS COMMISSIONS ON CREDIT CARDS
Moreover, the government has announced a package of regulations to raise the competitiveness of businesses including trade support measures are. A major is limited to a maximum of 0.3% the fees charged to merchants by shopping card customers.
Thus, the fees credit cards have a limit of 0.3% on the value of the transaction and the debit of 0.2% . Currently, the average rates of exchange for purchases on the same network, according to recent data from the Bank of Spain in the fourth quarter of 2013, the stretch from zero to one hundred million represent a percentage of 0.74% credit Debit and 0.3% per transaction .
The Deputy Prime Minister Soraya Saenz de Santamaria , explained that the bill “expressly prohibited” that banks will move to its customers the cost of the limitations of the commissions.
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