Primark, C&A and H&M will absorb VAT increase
09 March 2010 @ 13:32
Primark, C&A and H&M will absorb the VAT increase due to come in to effect in Spain from 1st July 2010. The rate is due to go up from 16% to 18%, which is not ideal with Spain struggling so badly at the moment. I guess every little helps in Spain. I'm sure other retailers will do the same as we get closer to the 1st July.
This information is taken from a Spanish language article here if you want more details.
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