Spain Banks Still in Dark on Details of Tax to Offset War Impact
- Economy Minister declines to explain mechanism of planned levy
- Lenders say it’s the wrong moment to hit them with more taxes
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Spain’s government will present a draft law as soon as next week for its new tax on banks, but left them still in the dark about details of how it will work.
“In the government, we think that the banking sector can and should contribute,” Economy Minister Nadia Calvino said in a news conference in Madrid Friday after a meeting with executives from major banks also attended by Bank of Spain Governor Pablo Hernandez de Cos. She declined to say how the levy would operate.