Possible IVA reduction too little, too late according to Mallorca businesses

NEWS that the central government is “open” to reducing IVA­­­­ value-added tax on tourism was coolly received in Baleares.
The announcement from Reyes Maroto, minister of Industry, Tourism and Commerce, arrived late and was prompted by the Covid-19 crisis, business associations CAEB and PIMEM claimed.
“It sounds good, but needs prudent analysis,” PIMEM president Jordi Mora told the Baleares media.
“We regard it as ill-timed awareness of tourism by a central government which has never shown it before,” Mora said, adding that tourism and tourist services IVA should have been lowered years ago.
“Then we could have competed with Turkey, Egypt or Greece on better terms.”

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