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On Tuesday, it approved a 3% tax on digital businesses that make more than €750 million, or about $850 million, worldwide, of which more than €3 million is made in Spain.
If passed by the Spanish parliament, the tax would be levied from the end of this year — potentially giving the Organization for Economic Cooperation and Development time to draw up and gain approval for its own overhaul of global tax policy, which is expected to affect large technology companies.
The move is similar to France's plans: It introduced its own digital tax amid frustration at the lack of progress by the OECD, but delayed the introduction of the levy after the U.S. threatened to impose tariffs on French goods.