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Spain Taxes Tech Companies, Stock Trades in Final Budget Vote

Dec. 22, 2020, 10:10 PM

Taxes will go up for big tech companies and traders in Spain under the country’s 2021 budget approved by the Senate Tuesday.

The increases—designed to help boost Spain’s revenues hit hard by the coronavirus pandemic—were approved by a 145-118 vote with two abstentions.

The measure includes a 3% tax on the revenue of tech companies and a financial transaction tax, which would levy a 0.2% tax on the purchase of shares of Spanish companies with a market capitalization of more than 1 billion euros.

The budget would also limit exemptions for dividends and capital gains from subsidiaries and increase taxes ...