Voice of America: Spanish Businesses Fret Over VAT Hike

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

Spanish Businesses Fret Over VAT Hike Aug 31st 2012, 14:41 SEVILLE — Spain's standard value-added tax will jump from 18-21 percent on September 1, and the reduced rate will rise two percent, the sharpest increase in the country's history. The hike is expected to plunge Spain deeper into recession - at least initially - and opposition to the measure is widespread. Braving the economic storm, Fernando Vázquez Rojas opened three restaurants in the past four years in Seville, where clients can dine for under 20 euros per person - a bit more than ... Media files: 42B546CE-0CBE-425A-87EA-7F8757FA28F6_cx0_cy8_cw0_w800_r1.jpg?nocache=1 (image/jpeg, 0 MB)

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