Tag Archives: vat

VAT on bullfighting could drop to 10%

Posted on by — 5 Comments ↓

Currently, VAT (IVA) on all cultural activities is taxed at 21% (luxury). This includes theatre tickets, entertainment values, works of art, etc. The government has confirmed it is studying reducing the VAT on works of art to 10% in order to help Spanish artists. However, the tax break would only be on handcrafted individual works of art. Another item that could be dropped is the cost of going to a bullfight, as part of Madrids Continue reading VAT on bullfighting could drop to 10%→

IVA won’t go up, promises government

Posted on by — 1 Comment ↓

Montoro has angrily denied that he is planning another IVA tax rise in the next few months, as suggested by Expansión today. He admitted that the IMF and the EU keep asking him to put IVA up, but said he’s not going to, because it isn’t necessary. IVA has three tax bands in Spain, 4%, 10%, 21%. The suggestion was to change them to 4%, 13%, 23%. But Montoro, the Minister of the Economy, is Continue reading IVA won’t go up, promises government→

Important changes to IVA invoices as from next year – the cash basis IVA scheme

Posted on by — No Comments ↓

In September 2013 a new tax law was introduced in Spain which changes the way businesses can claim back IVA (VAT) on invoices issued and pending. The law is known as Ley 14/2013, de 27 de septiembre, de apoyo a los emprendedores y su internacionalización (Law 14/2013 of 27 September, support for entrepreneurs and internationalization), whose importance I believe may be of interest. In short, the new system allows those businesses that have registered under Continue reading Important changes to IVA invoices as from next year – the cash basis IVA scheme→