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Tobin tax

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Spanish economy 1st September 2023

Treasury postpones new Tobin tax self-assessment model, which affects 52 Spanish companies

Banca March | The Ministry of Finance has postponed the new Tobin tax self-assessment model. Instead of coming into force on September 1, the proposed date is January 1, 2024. The tax in question refers to the tax on financial transactions that was introduced on January 16, 2021 and whose modifications are postponed until next year. The reason for the postponement is that the Community of Navarre and the Basque…

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Relevant News Item 2nd November 2021

Spain’s Treasury Collects €209 M Up To September Of The €850 M Expected For The ‘Tobin Tax’

This figure means 24.5% of the €850 M expected to be collected by the government for the whole year, i.e. a quarter of the estimate for the whole of 2021, reported agency Europa Press. On the other hand, in the first half of the year, Spain has received 93 million euros from the first settlement of the Tax on Certain Digital Services, known as the ‘Google tax’, of the 968 million euros expected for this year.

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Spanish economy 19th January 2021

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.

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Spanish economy 9th October 2020

Tobin’ And ‘Google’ Taxes To Be Launched In Spain In January 2021

The Spanish Senate has definitively approved the Tobin tax and the ‘Google’ tax. The first is a tax on financial transactions, involving a 0.2% charge on the purchase and sale of shares of Spanish companies with a capitalisation of over 1 billion euros. This will affect 32 of the 35 securities in the Ibex 35 index. The second is a tax on digital services, to the tune of 3%. This will be imposed on multinationals with annual revenues of at least 750 million euros worldwide and 3 million euros in Spain.

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Spanish economy 19th February 2020

Spain’s Government Gives The Green Light To The Google And Tobin Taxes

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).

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Markets 7th May 2014

Tobin tax to have a 10% impact on Spanish equity trading volume (ACF)

MADRID | By Jaime Santisteban | Tobin tax will be in place the beginning of 2016 at the latest despite the UK’s finance industry heavyweight challenge. The Spanish government called it a sensible and cautious measure. Crucial questions such as the level of tax or how to levy are still in the air. 

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In Europe 10th October 2012

Tobin Tax claims first 11 victims

Past performance casts doubts over what European governments will achieve by implementing the Tobin Tax on financial transactions. Funding costs for banks and their clients, though, will surely increase.

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Interviews 20th February 2012

José Sartorius: “Most Spanish employers understand UK’s ‘no’ to the Tobin Tax”

By Jacobo de Regoyos, in Brussels | José Sartorius Álvarez de Bohorques devotes most of his time to his role as a member of the European Economic and Social Committee. He was appointed by the Spanish Confederation of Employers’ Organizations CEOE and the Banking Association AEB. Are the Spanish entrepreneurs against the Tobin tax? Well, I have not met with all Spanish entrepreneurs, but the AEB and the CEOE are contrary to the Tobin…