Iberdrola plans legal case opposing Spain's windfall tax
”Arbitrary and discriminatory,” says the utility’s legal council about special taxation on extraordinary profits gleaned by big business amid the energy crisis, which such levies seek to soften. Iberdrola is taking the case to court.
Iberdrola is preparing to take the Spanish state to court in an attempt to evade windfall taxation, or special levies on major domestic companies in order to use the revenue to alleviate inflation pains and towering energy prices that the nation’s rate payers are obliged to hand over to commodity suppliers, just as all other Europeans have been squeezed this last year and a half, reports Financial Times.
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