Proposal to introduce a Spanish Financial Transaction Tax
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It has recently been announced that the Spanish Tax Authorities intend to submit a proposal to the Spanish Parliament introducing a Financial Transaction Tax (FTT), based on the French model.
The new tax would apply to transactions in Spanish listed equities and, if it becomes law, would be expected to be effective from 1 January 2013.
We will continue to monitor the Spanish market and provide more information as it becomes available.