Spain seeks to tax tech companies after raising US tariffs
Spanish Economy Minister Nadia Calvino said that the country is negotiating with the United States and other countries to find a fairer system for taxing the profits of technology companies at the global level, and Calvino spoke a day after Washington imposed a 25% tariff on 2 $1 billion in imports from Spain and five other countries on digital services taxes.
It then immediately suspended the tariffs to allow time for international tax negotiations, which also include a US proposal for a global minimum corporate tax, to continue. Obviously (the tariff) is not good news, but it is positive (the US said) it has suspended implementation.
The goal of the talk was to create a more fair tax system, not only at the national level but also at the European level and even globally. Big tech companies and the tax was expected to bring the government around €1 billion in 2021.