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Spain introduces "tax on Google"

24.02.2020 13:01


The Council of Ministers of Spain approved a bill that provides for the introduction of taxation on the largest companies offering digital services. This was announced on Tuesday at a press conference by the official representative of the Spanish government, Maria Jesus Montero.

We are talking about the so-called "tax on Google." The cabinet also approved a draft law on tax on financial transactions. Now both initiatives will be referred to the country's parliament. "The Council of Ministers approved the bill ... on the so-called Tobin tax and the bill on the tax on certain digital services" Google tax, "she said.

“We cannot have a modern welfare state with an outdated tax system,” she said. “This government will convert the digital tax without raising taxes for the middle class or for small and medium-sized businesses.” It is expected that the "tax on Google" will affect the profits of Internet giants and amount to 3%.

The Spanish government expects to receive up to € 1,8 billion per year thanks to these two taxes.

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