VAT will not increase in Spain for the foreseeable future

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Finance Minister María Jesús Montero Credit: La Moncloa flickr

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.

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





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