Saturday, December 4

The National Court condemns the Treasury to return up to 1,000 million to Telefónica

The National Court has ordered the Ministry of Finance to return to Telefónica an amount that, depending on the resolution, could amount to up to 1,000 million euros due to excessive collection in Corporation Tax for the years 2009 and 2010.

Sentence, advanced by ‘El País’ and to which Europa Press has had access and against which there is an appeal, it does not establish a specific payment figure, but legal sources indicate that the maximum that the operator could receive at this time would be around that figure of 1,000 million euros.

The Ministry of Finance is analyzing the sentence to decide whether to appeal to the Supreme Court, as the department headed by María Jesús Montero has transferred to Europa Press. In the event of an appeal, the interests would continue to accrue and if the high court ends up endorsing the return to Telefónica, the item would increase above these amounts.

The resolution will in no way imply the entry of cash for Telefónica, but the refund will be made in the form of tax credits for its next tax returns. This judgment is not the first on the case, since in January 2019 Telefónica already received a favorable judgment that resulted in the return of 702 million euros.

The Treasury will have a period of 30 days from the notification process to present its appeal, if it considers it so.

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