On January 16th 2021, the Spanish Financial Transactions Tax (FTT) (Law 5/2020 of 15/10/20) will enter into force. The FTT applies to every acquisition of shares admitted to trading of Spanish companies with a stock market capitalization value in excess of one billion euro, regardless of the residence or place of establishment of the individuals or entities involved in the transaction or the place where the acquisition is made. A great variety of tax exemptions may be applicable. Additionally, the ADRs representing the shares of the Spanish companies under the scope of the Spanish FTT are also taxed.
Our November 18th webinar will cover the main aspects of the Spanish FTT, the tax exemptions and the procedures for the tax assessment under the recently publish draft of the regulation which covers the procedures for filing and paying the tax.