Financial Transactions Tax Law.pdf

tax-alert-financial-transactions-tax-law.pdf
Preview of Financial Transactions Tax Law
🔗 Source: home.kpmg
📊 Size: 188 KB
👤 Author: KPMG Abogados
⬇️ Downloads: 58

Summary

Spain's Financial Transactions Tax Law was published in October 2020 and will come into effect on January 16, 2021. The tax is a 0.2% levy on acquisitions of shares in large listed Spanish companies with a market capitalization value over €1,000 million. It is an indirect tax on certain acquisitions for consideration, including sales, purchases, swaps, and other contracts, and applies regardless of the place of residence of the parties involved. The tax is expected to generate €850 million in revenue per year. Certain transactions are exempt, such as acquisitions solely for issuing certificates of deposit and transactions to cancel such certificates. The law aims to minimize the risk of offshoring financial intermediaries and contribute to the coordination of financial transaction taxes at the European level.

Description

Spain's Financial Transactions Tax Law was published in October 2020 and will come into effect on January 16, 2021.

Technical Information

  • File Format: PDF
  • File Size: 188 KB
  • Pages: 8
  • Language: EN
  • Author: KPMG Abogados
  • Total Downloads: 58
  • Last Updated: 1 month ago

Document Overview

This PDF document about Financial Transactions Tax Law provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into Financial Transactions Tax Law.

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