IVA for online press and e-books to drop from 21% to 4%
Thursday, December 8, 2016 @ 11:00 AM
ECONOMY minister Luis de Guindos has announced IVA will drop from 21% to 4% for online newspapers, magazines and e-books, in line with the paper versions of all three.
Value-added tax on press, media and literature had always been in the lowest band of 4% until the drastic IVA reform of September 2012, when the middle level went up from 8% to 10% and the top rate from 18% to 21% - having been only 16% two years previously – and a number of goods and services which used to attract bottom-band or 'super-reduced' 4% IVA moved into the maximum category.
This hike from 4% to 21% has meant tougher times for parents at the start of the new school year when buying their children's textbooks, has seen a dramatic decline in cinema and theatre audiences, CD and music download sales, and left the digital media struggling financially.
Read more at thinkSPAIN.com