Spain postpones tax payment due dates for FTT and Digital Services

Spanish taxpayers are to be hit by two major taxes in 2021. These taxes are the Financial transaction tax (FTT) and the digital service tax (DST) and they both were passed last year by Spain’s upper house. These taxes are to become effective starting January 2021.

• The FTT is a 0.2% tax on the purchase of shares of Spanish companies with a market capitalization of more than €1 billion.
• The DST is a tax on digital services that  places a 3 percent tax on earnings from online ads, deals brokered on digital platforms and sales of user data by tech companies with at least €750 million ($883 million) in total annual worldwide revenues and Spanish revenues of €3 million ($3.53 million).

The Spanish government released a notice on the postponement of both taxes. This should give the companies more time to adapt to the new requirements and implement all necessary changes.

Regarding the Financial transaction tax (monthly filings) for the months of January and February submissions have been moved to March and with respect to the digital service tax (quarterly filings) payments have also been moved to the next quarter.

Source: agenciatributaria.es