The government has announced a series of tax rises for the next budget, including an increase in IVA to 18% and 8%, respectively. Tax on any money you have in the bank or invested jump to 21%.
Full story here: 2010 Spanish tax rise announced
Frankly, despite the fact he’s a bit of an oik, I’m with Rajoy on this one. A desperate attempt to plug the funding hole, hitting the easiest target whilst hoping the economy recovers.
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