No Tax Rise in Spain Next Year

Taxes will not rise next year in Spain, despite the European Union calling for further fiscal pressure to reduce the country’s debt in order to meet its annual target.

Secretary of State for the Treasury, José Enrique Fernández de Moya, insists Spain will be able to bring about a ‘fiscal consolidation’ to satisfy the EU without changing tax levels of income tax and IVA.

He says ‘thanks to the improvement seen in the national economy’, the treasury is now earning more money and is able to keep taxes where they are now.