Solicitor Valencia

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C/ Colón,10 - Pta 15 - C.P.:46004- Valencia - Spain

PROPOSAL ON VAT AND RETURN OF CAPITAL TAX

The Spanish Government has approved a proposal in the law (it is likely that the Parliament will approve it) that will increase the taxes in Spain. The 400 Euro deduction applied in the Income tax will be taken away and the tax on return of capital will increase between one and three points.

At the present moment the standard rate of VAT is 21% and the reduced one is 10%