Taxation of the digitalized economy – Developments summary published by KPMG (7/2020).
Spain: Tax on financial transactions in draft legislation pending parliamentary consideration published by KPMG (3/2020).
“A draft of financial transactions tax legislation was published in the official gazette on 28 February 2020—thus, beginning the parliamentary process for the bill to be considered by the Spanish Parliament…”
EU: Amended financial transaction tax proposal published by KPMG (12/2019)
“The German Finance Minister on 9 December 2019 issued a revised proposal for a Council Directive regarding the introduction of a common financial transaction tax to the participating EU Member States in the so-called enhanced cooperation procedure—that is, Germany, Austria, Belgium, France, Greece, Italy, Portugal, Slovakia, Slovenia, and Spain. The revised proposal includes an optional exemption for pension schemes and a new system for “mutualization” (the method for calculating the financial transaction tax revenues to be shared among EU Member States)…”
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