2023-04-26 13:16:02
Repsol and the Cemex subsidiary in Spain have appealed against the new list of tax havens established in an Order of the Ministry of Finance last February.
According to two Treasury provisions published in the Official State Gazette (BOE) this Wednesday, Repsol and Cemex have filed Sponsored links in the National Court against the Treasury Order, of February 9, which determines the countries and territories, as well as harmful tax regimes, which are considered tax havens based on the new international concept of non-cooperative jurisdiction.
The interested parties now have a period of 9 days, counting from tomorrow, to appear in the cars, as established by the Law regulating the Contentious-Administrative Jurisdiction.
In accordance with the new international concept of non-cooperative jurisdiction, contemplated in the anti-fraud law, the ministerial order updated the list of tax havens, being fixed in 24 territories.
Thus, in the published order, the following countries and territories are considered non-cooperative jurisdictions, as well as the following harmful tax regimes: Anguilla, Bahrain, Barbados, Bermuda, Dominica, Fiji, Gibraltar, Guam, Guernsey, Isle of Man, Cayman Islands, Falkland Islands, Mariana Islands, Solomon Islands, Turks and Caicos Islands, British Virgin Islands, United States Virgin Islands of America, Jersey, Palau, Samoa, as regards the harmful tax regime (‘offshore business’), American Samoa, Seychelles, Trinidad and Tobago and Vanuatu.
Precisely, the inclusion in this list of Trinidad and Tobago It is what has motivated Repsol to resort to it. According to a 2022 company report to which Europa Press had access, the group only maintains an active presence in Trinidad and Tobago, one of the territories considered a tax haven (non-cooperative jurisdiction).
Is about Repsol Exploration Tobagoa company with a branch in Trinidad and Tobago that carries out hydrocarbon exploration and production activities in the country and whose profits are taxed there at a rate of 55%.
Thus, the group defends in this report that its presence in tax havens is “irrelevant“, since the income obtained there represents less than 0.01% of its turnover.
The company stresses that its presence in these territories does not obey the purpose of limiting the transparency of its activities or of applying “unlawful or undesirable” practicesbut that it responds “to legitimate business reasons and conforms to usual standards in the sector”.
“The Repsol group undertakes not to have a presence in tax havens, and, if it does, to provide information that facilitates understanding of its true scope and nature”the company states in its report.
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