How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily brief -Wednesday 7 October 2015
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Gov't likely to increase IVA 2013
Yesterday afternoon the Government announced their intention to introduce tax increases throughout the course of 2013, expected to raise around €8 billion in revenues.
Luis de Guindos, Minister for the Economy, would not confirm if or how current rates of IVA would be affected, yet analysts argue that such a hike would be the only way that such revenues could be generated.
When the previous PSOE administration increased the upper level of IVA from 16 to 18% it generated €6.5bn for the treasury.
However, the government is keen to focus on taxing spend on consumption and not on costs of labour, as such social security contributions are likely to be reduced.
Taxes on beer, wine and other alcoholic beverages are likely to increase, along with the tax on tobacco products and "special taxes" on certain modes of transport.
De Guindos predicts that the public administration will reach a budgetary balance in 2016, after reducing public debt to 2.2% of GDP in 2014 and to 1.1% in 2015, in line with the targets set by the EU.
Latest News & Stories
- Spain's government approves the “sun tax”
- Spain not hit by VW investment revision
- Facebook Tests New Emoticons in Spain
- Spanish driving test examiners strike over safety fears
- Aer Lingus announces new Belfast to Alicante route
- Spain's employers organizations ask for more flexibility in labor market
- Vodafone Spain awarded Barcelona public transport contract
- Barcelona and Madrid’s new mayors are best-rated politicians in their cities
- Sabotage could be behind four-hour suspension of high-speed rail service
- Spain's industrial production rises by 5% in August