Problems relating to Trade and Investment on Spain
14. Taxation Systems |
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Issue |
Issue details |
Requests |
Reference |
| (1) Irrational Change in Retroactive Application of Fit System | - It has become difficult to maintain the profitability at the investment point, due to the retroactive change in Feed-In-Tariff (FIT) System passed at the end of 2012 and Amendment in the Taxation System (enforced from 1 January 2013). More precisely, the scheduled application of FIT, namely 7% on sales tax on electricity sold, and application of FIT on gas assisted solar power generation will no longer apply in their entirety. - GOS's Unilateral Review of the Feed-in Tariff (FiT) Scheme (including its Effective Retroactive Application) results in loss of legal stability and credibility of Spain as a candidate country for foreign investment. |
- It is requested that GOS rescinds and repeals the retroactive change in the systems (including the taxation system) that affects the Nation's reputation. - It is requested that GOS takes steps to compensate the initially expected return on investment (ROI). |
- RD15/2012 - GOS is currently reviewing the method for calculating the adequate profit level. |
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