spanish companish market cap

The Tobin Tax On Financial Transactions Already Operating In Spain

The so-called Tobin tax on financial transactions – which will be charged on the acquisition of shares of large Spanish listed firms like Inditex, Iberdrola or Banco Santander – came into force on January 16. The new tax will mainly affect the purchases of these companies’ shares, either in cash or via credit. According to the list drawn up by the Tax Agency, it will be applied to almost 60 companies with a market capitalisation of more than 1 billion euros as of December 16 2020.