Spain against raising its Standard VAT rate to 23%
Since the crash, Spain has been forced to raise its standard VAT rate from 16% in 2010 to 21% in 2012. The Spanish Advisory Committee for tax reform has recently said that by increasing Spain’s standard VAT rate again to 23% in 2014, would help reduce the budget deficit. They also proposed a rise in the Reduced VAT rate in from 10% to 13% in 2014. However, the Spanish Finance Minister has rejected this proposal.