The National Court has ruled in favor of the engineering group Técnicas Reunidas in a lawsuit about the liquidations for Corporation Tax between 2008 and 2011 amounting to 117 million euros. The judicial decision also recognizes the payment of interest to the company, which raises the amount to 143 million euros.
The ruling of the Court recognizes that the application by Técnicas Reunidas of the exemption of article 50.1 of the Consolidated Text of the Corporate Tax Law with respect to the result of 11 temporary unions of companies (UTE) with which the company operates abroad is according to Law.
The Court has positioned itself through four different sentences, which can be appealed by the State Attorney before the Supreme Court and whose content will have no effect on the annual results that the company will present shortly, they indicate from the company.
One of the judgments refers to the procedure followed against Técnicas Reunidas in its capacity as the parent entity of the tax consolidation group, which is the entity to which the tax debt was settled in its entirety. The other three correspond to the procedures followed against three of the regularized joint ventures. Técnicas Reunidas is awaiting notification of the judgments corresponding to eight other joint ventures.
To avoid new controversies, Técnicas Reunidas has signed a Preliminary Valuation Agreement with the Tax Agency that defines the taxation model for the tax group in Spain from 2015 onwards. All the years prior to 2015 are already inspected.
The company, which capitalizes more than 600 million euros on the stock market, is recovering the international pulse with new contracts, after the difficulties experienced during the pandemic. It recently won a contract in Kazakhstan that will give it access to a larger project, for an amount close to 1,000 million euros.
The group has received 340 million euros from Sepi under the support fund for strategic companies in difficulties launched with the outbreak of the pandemic. It did so after alleging that its financial situation was better than that of other companies in difficulties, but that it needed support from the State because in the international contracts for which it bids, it competes with companies that receive public funds or that are directly owned by their governments of origin. . This situation created a disadvantage for the Spanish company.