Spain to slash gas VAT from 21% to 5% from October

The reduction in gas VAT was announced by the President of the Government of Spain Pedro Sánchez, on Thursday, September 1.

Spain will reportedly lower the VAT on gas from the current 21 per cent to 5 per cent so that citizens will see a reduction in the amount they have to pay this coming winter.

This was announced by the President of the Government, Pedro Sánchez in an interview with Hoy por Hoy, stating that this measure will be implemented in October and will end in December, although he is open to extending for a few more months, an idea that was requested by PP ( The Popular Party) last Monday.

🔴📹 DIRECTO | Pedro Sánchez: “El Gobierno va a plantear una rebaja del 21% al 5% del IVA del gas en beneficio de la clase media trabajadora” https://t.co/LkB5id2jCz https://t.co/qubaiN3Pwn

— Hoy por Hoy (@HoyPorHoy) September 1, 2022

“The Spanish government is going to propose a reduction in VAT on gas from 21 per cent to five per cent.”

“We are going to do this in line with the economic policy that we have been deploying since the start of the energy crisis, which is based on selective tax cuts for the benefit of the working middle class.”

“We are also proposing taxes on large energy companies and large financial institutions,” stated the Prime Minister.

The news comes shortly after Isabel Rodríguez highlighted new economic measures that come into force on Thursday, September 1, to protect citizens from the economic consequences of the Ukraine war.

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