On 16 October 2020, the Spanish Official Gazette published the Laws Nos. 4/2020 and 5/2020, implementing a digital services tax and a financial transactions tax. The law includes a 3 % tax on digital services including online advertising, online intermediation services, and the sale of user data generated through a digital interface with at least €750 million ($883 million) in total annual worldwide revenues and Spanish revenues of €3 million ($3.53 million).
The FTT is a 0.2 percent tax on the purchase of shares of Spanish companies with a market capitalization of more than €1 billion (US $1.17 billion). Both laws will go into effect on 16 January 2020, three months after their publication in the Spanish Official Gazette.
