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Alcohol and tobacco taxes to go up in Spain
14 May 2013 @ 23:25

According to El Pais, the Spanish government is likely to increase taxes on alcohol and tobacco as well as increasing environmental taxes:

The government has ruled out any further hikes in major taxes this year and is instead studying increasing special levies on items such as alcohol and tobacco along with environment taxes to help meet its deficit target for this year.

However, Finance Minister Cristóbal Montoro has already flagged that the temporary hikes in personal and corporate income tax introduced last year would remain in place in this year’s budget.

The government feels it has some scope to raise the overall tax burden, given that tax revenues in Spain currently account for only 36 percent of GDP, compared with an average of 46.5 percent in the euro zone as a whole.



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