Last week, Spain approved tax increases which could see VAT payable on new property purchases increasing as of 1 January 2013 from the current 4% super reduced rate to 10%, unless the Spanish Government makes an exception. Tax reduction on new property was made effective in August 2011, when the government of José Luis Rodríguez [...]
Proposed hikes in VAT have caused an uproar in Mallorca and all across the Balearics recently. A government plan to hike VAT from 8% to 18% this Friday when the new budget is announced had led many spokespeople and workers within the tourism industry to complain, saying that tourism in Majorca and the other Balearic [...]
