IVA & tax increase plans confirmed by Madrid

Luis de Guindos, the Minister for the Economy, has just confirmed that the government is planning to increase “indirect taxes” in 2013.

This means another IVA increase is probably on the books, although he has refused to state exactly which taxes will be increased and when.

De Guindos told reporters after this mornings “Meeting of Ministers” that the government wants to reduce tax on industry and work, and increase indirect taxes on consumption.

Other “indirect taxes” are of course those on booze, fags, cars, petrol, etc, etc, etc.

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