RAJOY WILL ‘EXPLORE’ FURTHER TAX INCREASES

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The President of the Spanish Government, Mariano Rajoy, has maintained that he has “no plans” to raise IVA further, but he is willing to comply with the request that has made by Brussels to explore a possible increase.

In a presentation in the Senate, Rojoy said that the European Commission argues that there is room to raise the reduced level of IVA, despite the increases already implemented, when the standard rate increased from 18% to 21% and the reduced rate from 8% to 10% in September.

Rajoy stated that Brussels has asked the government to “explore” the possibility of raising the value added tax, which he is willing to do, but he wanted to make it clear that this does not mean it will go up. Rather than an increase, Rajoy said the government remains committed to lowering income tax, no later than 2015. As the last general elections were held in 2011, this year coincides with the maximum term that the current administration can hold power without the country going to election once more. Rajoy has since said that if possible, the government will reduce tax in 2014.

During the meeting, Rajoy also detailed the reduction in unemployment in May, which he said is “good news”, but this does not mean that it is the end of the reforms and the government’s economic policy.

Rajoy reiterated the Government’s objective in this term is still growing, creating jobs and improving the welfare of the Spanish. He said that the Government remained committed to reducing the deficit and making reforms, the results of which he said are already beginning to show.

Filed under: http://www.theleader.info/article/39282/

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