VAT Rates in the EU – Graphic of the Day
Spain annouced a raise in General VAT to 21% from 18% and the rate for the leisure industry to 10% from 8%. Representatives from key industries were unhappy with the rise, suggesting it will cost billions of euros in lost earnings and thousands of jobs, complicating the country’s efforts to pull itself out of a recession. Today’s graphic shows the VAT rates throughout the European Union. The lines connecting the blue and red dots show how it has changed since 2000.
Do you agree with Spain’s decision to increase the VAT rate?