Tag Archives: iva increase 2013

65 billion euro budget reform announced (IVA up, spending down, taxes up, benefits down, etc)

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IVA will change on the 1st of September. In an effort to slash 65 billion euros out of the government spending over the next two years, Mariano Rajoy, PM of Spain, today announced in front of Congress one of the most sweeping reforms ever laid down in democratic Spain. In brief: 18% IVA will go up to 21% 8% IVA will go up to 10% 4% IVA stays the same All government spending on political Continue reading 65 billion euro budget reform announced (IVA up, spending down, taxes up, benefits down, etc)→

Average VAT could rise from 8% to 18%

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The government’s plan to increase IVA (VAT) has been leaked – they don’t want to increase IVA across the board, they want to requalify a bunch of products from 8% into the 18% range. Amongst items mooted are cinema tickets, hotels, transport, and drinks in bars -eek!- (all 8%) which would see an extra 10% slapped on them. Spain has three IVA bands : Superreduced at 4% (bread, basic foodgoods, newspapers, certain health products, not Continue reading Average VAT could rise from 8% to 18%→