Friday, April 27, 2012
MALLORCA TODAY - IVA will rise next year in Spain
The Spanish Government has announced that there will be an increase in IVA (value added tax) next year. Without specifying what the rise will amount to, the government is to take this step as a means of cutting the deficit. It should be noted that IVA has already risen since the economic crisis took hold, having gone up last year to 18% (the general rate) from 16%.