A probe by A HM Revenue and Customs (HMRC) revealed how Butler tried to hide the scam by creating a complex web of businesses operating out of the UK, Spain, Gibraltar and the United States. Butler allegedly used his ‘ill-gotten wealth’ to purchase a luxury villa in Marbella and several sports cars that include a Ferrari Fiorano FI, a Ferrari …
On Tuesday, the International Monetary Fund presented its latest report on the Spanish economic situation, recommending higher consumer taxes and levies, lower corporate taxes, easier ways to reduce salaries of employees and lower corporate taxes amongst other measures.
From their ivory tower in the corridors of plenty, the European Commission has today called on Spain to further increase IVA (VAT), raise environmental taxes such as on fuel, continue reforms on labour and pensions, including raising the retirement age, and reduce the deficit of the social security system.
Spain will have to raise the IVA (VAT) rate applied to some healthcare products and services after the European Court of Justice ruled in favour of the European Commission, which successfully argued that the Spanish government had incorrectly implemented EU rules on VAT.
Tickets for the cinema, theatre, concerts, circuses and other cultural events and shows are set to rise after the announcement that IVA (VAT) on such things is to be increased from the current 8% to 21%.
The decision has been made. The increase in IVA (VAT) from 18% to 21% and from 8% to 10% will take effect from September 1st 2012. The 4% rate for the purchase of a first home will rise to 10% on January 1st 2013.
IVA (VAT) is set to rise by 3% to 21% and budgets to local authorities are to be cut by €3.5 billion as part of the latest round of austerity measures.
The government has announced plans to try to tackle the severe problems facing its housing market by temporarily halving the sales tax (IVA) on new homes to 4% to try to stimulate the construction sector.
Not long now until the rate of IVA (VAT) goes up by two points and we see the inevitable price rises. There will no doubt be those who merely adjust their prices to maintain their existing profit margin, some who add a bit more for luck and those who just see an opportunity to make more profit. Human nature.
Eighteen people have been arrested in connection with a multi-million euro VAT fraud, the detentions taking place in Málaga, Madrid, Granada and Melilla.