Spain’s Minimum Tax Rate to Hit Around 1,000 Companies—For Now

Spain’s 15% minimum corporate tax rate would initially affect just 1,070 companies, Finance Minister Maria Jesus Montero said Thursday.

But it would likely be modified in the future, she said, either to fit an ongoing global tax policy overhaul or as part of domestic plans to boost revenue. The current proposal is expected to bring in some 400 million euros ($460 million) annually.

The government plans to undertake a broad overhaul of the tax system to boost income in the next few years, with a committee due to issue a report outlining the proposal early next ...