The Constitutional Court annulled the Catalan tax on bank deposits

The Constitutional Court annulled the Catalan tax on bank deposits.

The Constitutional Court has annulled the Catalan law regulating tax on deposits of credit institutions considering that the rule created is identical to a tribute state, which contravenes the Constitution. In two judgments, the House of the High Court has estimated resources and brought the government against Decree-Law of Catalonia approved in 2012 and the Law of the Catalan Parliament in 2014, on both the tax on deposits in banks.

The law by which the Catalan tax deposits created was approved by the regional parliament in April 2014, and contemplated that if a financial institution caught deposits worth up to 150 million Euros in this community would apply a tax of 0.3%; between 150 and 600 million rates would be 0.4%, and from 600 million, 0.5%.