banking tax


Spanish banking tax ballooning

MADRID | By J.P. Marín Arrese | Spanish banks are frantically pressing government to transform their deferred tax assets (DTA) into rock-solid unconditional commitments. Failure to do so before the end of the year would deprive them of 40 billion in Tier 1 capital, an amount equivalent to last year’s rescue package. Unless they secure full immunity for current DTA, they are bound to devote ample resources in redressing their own resources.