Spain to Squeeze Multinationals, Fraudsters to Boost Tax Revenue

March 16, 2021, 6:08 AM

Spain has won tax victories against Netflix and Facebook in recent months, and with a digital tax in place it’s now looking beyond the tech sector for much-needed revenue.

The country has been hit harder by coronavirus than most. Its economy shrank 11% last year, as appalling mortality rates necessitated harsh restrictions on businesses and individuals. Total tax revenue through November fell by 7.4%, with the corporate tax take down around a third—and the tax authorities are on a mission to get it back.

“In the short term, the measures adopted are largely new taxes and ...

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