Spanish 7% Generation Tax (IVPEE) to continue following ECJ ruling – March 2021

On 3 March 2021 the European Court of Justice ruled the IVPEE (also known as the 7% generation tax in Spain) as a legitimate tax that does not contravene any European directive.

As our forecasts have assumed the continuation of the IVPEE (and associated Clawback Tax in Portugal), this decision does not result in any change to our forecast.

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