alfathoughts: The 2 big lies of Montoro on the new tax on deposits

Saturday, September 21, 2013

The 2 big lies of Montoro on the new tax on deposits

Well as we know details about the new tax " Montoro " which will tax bank deposits. Come straight to the point :

1) You have no collection effort , for that the tax rate set to tax banks by deposit volume and move between 0.1 and 0.2 percent , sun type " very moderate" for this tribute .

    Comment Gurus : In November of 2012 the volume of deposits in Spain was 1.47 billion euros. Aplicad between 0.1% and 0.2 % and it will leave the state with this tax raise very moderate rate between 1,470 and 2,940 million euros extra. Not bad for being a tax that has no tax collection eagerness

2 ) No tax on depositors , nor is it going to be , but it is another tax on banks.

    Comments Gurus : Let's see , maybe the citizens if we are foolish , but the banks I'm afraid not . Net profit of the whole Spanish system in Spain in 2011 was 5,351 million euros. ( In 2012 has been extremely low by Bankia ) . Does anyone believe that the banks are not going to pass a tax to customers that they can get to eat up to 55 % of profit generated in 2011 ? Well obviously not believe anyone , so you can go and as I prepared to see a little increase fees or you fall a little return on deposits. I hardly will notice , but at the end of the year, Volya , between 1,470 and almost 3,000 million euros to be flown out of the pockets of depositors to state coffers and collected by banks.

How we told you yesterday , I'm starting to prefer being Cypriot and I stick a saber of 6.75 % once, to be Spanish and I might be cooking like a frog to put that in a pot and go up little by temperatures slightly not notice that being cooked alive and jumped .

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