The Spanish stock market begins in 2025 with a total of 58 companies listed companies that are subject to the financial transactions tax, known as the ‘Tobin’ rate. This measure affects those companies with a market capitalization of more than 1,000 million eurosaccording to the information published by the Tax Agency.
13% increase compared to the previous year
Compared to the previous year’s list, which included 51 companies, the number of companies subject to the ‘Tobin’ tax has increased by 13%. This increase reflects the evolution of the stock market and the tax implications for these companies during 2024.
New additions to the list
Among the novelties of this year, the incorporations of companies such as Puig stand out, which joined the market in May with a capitalization of 10,250 million euros, and Inmmocento (FCC), which debuted in November with a value close to 1.5 billion. Entities such as Linea Directa, with a value of 1,170 million, and Atresmedia, which closes the list with a capitalization of 1,025 million, have also joined the list.
Promotion of the real estate sector
The real estate sector has gained prominence with the inclusion of Aedas Homes and Neinor Homes in the list. In addition, companies such as Prosegur and PharmaMar have also entered the list, with stock market values that fluctuate between 1,000 and 1,500 million euros.
Featured Outings
On the other hand, there have been significant exits, such as that of Applus, which left the market at the end of November after the liquidation of the takeover bid of the ISQ and TDR funds.
Factors that have contributed to the increase in the list
The increase in the number of companies subject to the ‘Tobin’ tax has been driven by the return of interest of companies in going public, favored by the decrease in interest rates and the increase in the value of companies. For example, the Ibex 35 has experienced a revaluation of 15% so far this year.
Leading companies on the list
At the top of the list are companies such as Inditex, the most valuable company on the Spanish stock market with a capitalization of more than 160,000 million euros, followed by Iberdrola, Banco Santander, BBVA and Caixabank.
The ‘Tobin’ tax and its application
The ‘Tobin’ tax is an indirect tax that taxes 0.2% on the purchase of shares of Spanish companies with a market capitalization of more than 1,000 million euros. This rate is applied to the tax base and not to the expenses associated with the transaction, with data updated until the first day of December.