Spain sends bill on taxing web giants' Spanish revenues to parliament

The Spanish government has sent a bill to parliament proposing to tax revenues booked by web giants such as Google (GOOGL.O), Amazon (AMZN.O) and Facebook (FB.O) in Spain, budget minister Maria Jesus Montero said on Tuesday. The government proposes to levy a 3% tax on large web companies that generate global revenue of more than 750 million euros ($811.05 million) per year and more than 3 million euros in Spain, Montero said.

She said the affected companies will have to make the first tax payment in late 2020, adding that the delay will allow for international negotiations. ($1 = 0.9247 euros)

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