| Spanish gov't raises VAT by 3% |
| Last Updated(Beijing Time):2012-07-11 17:18 |
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Spanish Prime Minister Mariano Rajoy told the parliament on Wednesday the government will increase the Value Added Tax from 18 percent to 21 percent.
Rajoy announced several economic measures to combat the high public deficit. The VAT rise has been one of these measures.
The Spanish government will also increase the reduced VAT rate, from 8 percent to 10 percent. |
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