Big Tech, Stock Trade Taxes Spoil Spain’s Revenue Estimates

Oct. 29, 2021, 4:20 PM

Spain’s digital services and stock trade taxes implemented earlier this year are bringing in far less revenue than expected, raising questions whether other countries could see modest results from their digital levy collections.

The country’s digital tax is now expected to yield under a quarter of its initial 968-million-euro ($1.1 billion) target, and preliminary figures on the stock levy’s revenue projection has been slashed by two thirds, to 372 million euros.

The digital tax figures could be an issue facing just Spain or a sign of lower revenue hauls ahead for other countries while their digital taxes remain law. Spain ...

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