Fitch Cool To Spanish Bank Tax Change

01 Aug 2013

Fitch Ratings says a proposal to change Spain’s tax regime that would allow banks to convert part of their deferred tax assets into a transferable tax credit to boost Basel III capital ratios is “largely cosmetic and likely to be ratings neutral” for Spanish banks and the sovereign. .

Fitch Ratings says a proposal to change Spain’s tax regime that would allow banks to convert part of their deferred tax assets into a transferable tax credit to boost Basel III capital ratios is “largely cosmetic and likely to be ratings neutral” for Spanish banks and the sovereign.

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