At its cabinet meeting on Tuesday, the government gave the green light to the implementation of new taxes on digital business and stock market transactions, following similar steps by other European countries. The agreement reached between Spain’s PSOE and Podemos coalition government included the approval of the two taxes, with which the Administration expects to collect about 2.050 billion euros (€1.200 Bn with the digital tax and €850 M with the financial transactions tax).
The outcome of the recent general elections in Spain was such a patchwork that the job of forming a cabinet has become a nightmare. The Socialist leader taking on this awesome task finds himself trapped. Both the middle-of-the-road Ciudadanos party and the extremist Podemos movement flatly refuse any joint agreement to secure enough support in Parliament.