Spain lowers VAT on gas from 21 to 5 percent

Spain lowers VAT on gas from 21 to 5 percent
Spain lowers VAT on gas from 21 to 5 percent

MADRID – Spanish Prime Minister Pedro Sánchez announced a new tax cut during a radio interview on Thursday. This time the IVA or VAT on natural gas will be reduced from 21% to 5%. This reduction will take effect on October 1 and will last for the time being until December 31, 2022, after which the situation will be reviewed and this measure may be extended.

According to Sánchez, the government has on electricity by 80% and now that winter is coming and the heating will be turned on, according to the prime minister, it is time for a VAT reduction for natural gas . In principle, this will be reduced from 21% to 5% for three months from 1 October to 31 December 2022. This extension can be extended if necessary.

Inflation in Spain fell slightly in August from 10.8% in July to 10.4% in August, but that is still too high and is also noticeable in the wallets of the inhabitants of Spain. That is why it is time for a new VAT reduction after various other measures have already been taken, such as the VAT reduction on electricity and free or discounted train travel from September 1 to December 31, 2022.

The article is in Dutch

Tags: Spain lowers VAT gas percent

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