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Spanish digital services tax and financial transactions tax laws are published

October 2020


After a lengthy legislative process, on October 16 the digital services tax and the financial transactions tax laws were published in the Spanish Official Gazette. Both laws will enter into force on January 16, 2021.

The takeaway

The Spanish government currently is negotiating the 2021 Budget Law, which could include amendments to the laws. We expect publication of clarifying regulations at a future date. Multinationals should continue monitoring the legislative process for both laws and consider evaluating the potential impact of these new taxes, as both taxes—and especially the financial transactions tax—are complex and call for detailed analysis.  


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Bernard Moens

US International Tax Inbound Leader, PwC US

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