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Spain: draft Budget 2017 — details

On 4 April 2017, the budget for 2017 was presented to the parliament by the Council of Ministers. Details of the budget are summarized below.

Direct taxation

No relevant changes have been proposed.

Indirect taxation

 (a) VAT

The reduced rate of 10% is expected to apply to the following supplies of goods and services currently taxed at 21%:

  • Access to theatres, circus, bullfighting events, concerts and other cultural live shows
  • Hospitality services, such as shows, nightclubs, barbecues or other similar services
  • Supply of frames for prescription glasses

Additionally, the purchase and sale of collector coins, an activity that does not qualify for VAT exemption applicable to currency purchase/sale, is expected to be subject to this exemption for an amount not exceeding face value.

 (b) Transfer tax

The transfer tax rates for transmission and rehabilitation of noble status are updated.

Other measures

Several fees regarding inter alia, boat transportation and telecommunications are updated.

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