1989 - 2018 29 years in business Saturday, 20th January 2018

Spain Should Increases Indirect Taxes, IMF Said


Dear Clients, 

 

The International Monetary Fund (IMF) has said that Spain should expand the indirect tax

Burden to boost the economy and put debt on a downward path.

 

The IMF has recommended that Spain raise excise duties and environmental levies, and

Gradually phase out value-added tax (VAT) concessions.

 

The fund said in its 2015 Article IV consultation report for Spain that these measures would

Bring the country’s tax collection efforts more in line those of other European countries.

 

The IMF noted that reforms to shift the burden of taxation from direct tax to indirect tax have

Already began. The IMF said that the Government’s decision to cut the corporate tax rate from

30 percent to 28 percent this year, and to 25 percent from next year, will make it easier for

companies in the country to expand.

 

Should you require any clarification, please do not hesitate to contact us at:

info@cardwell-capital.com

 

Kind Regards

Cardwell Advisory Desk.
 

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