Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

EU Court Question legality of Spanish IVA

Source: Reuters - Thu 17th Jan 2013
EU Court Question legality of Spanish IVA

Spain's decision to impose lower value-added tax rates on certain medical products below the level permitted under EU laws more than 2 years ago is illegal, Europe's highest court said on Thursday.

Spain found itself in the dock after the European Commission said the reduced VAT rates breached EU rules. The Luxembourg-based EU Court of Justice agreed with the EU executive in a ruling on Thursday.

Read more about Spanish rates of IVA by clicking the link >> HERE << .

"By applying reduced rates of VAT beyond what is authorised under the VAT Directive, Spain has failed to fulfil its obligations under EU law," judges wrote in their judgment.

The court said Spain could not set lower taxes for medical substances, which are normally used in making medicines, or for medical products used to treat illnesses.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs