The new supplementary tax on multinationals only raises 46 million in its first year.
The international initiative for large groups to pay more taxes is watered down
The changes in taxation of large companies in recent years have fallen short of the promised revolution. In 2021, nearly 140 countries agreed to set a minimum 15% tax rate for major multinationals, but the momentum was lost as the commitment was translated into legislation. In Spain, a new complementary tax was approved to ensure large multinationals pay at least 15% of their profits, but it has only yielded 46 million euros in revenue up to August 2026.
This is far below initial forecasts based on data from the Organisation for Economic Co-operation and Development (OCDE).
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
