VAT will not increase in Spain for the foreseeable future

THE Spanish Minister of Finance María Jesús Montero has made it clear that at this stage, the government has no plans to increase IVA (VAT) to 23 per cent as has been feared.

According her, a progressive government should not increase a tax that hits everyone no matter how poor they may be and should look for selective targeted tax increases although she hasn’t completely ruled out a review of IVA in the future.

Tobacco and Gambling are however likely to see some increases to combat addiction.

Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing, by calling +34 951 38 61 61 or by messaging our Facebook page