Spain will reduce taxes on fuel and electricity
The Spanish government is preparing a significant reduction in taxes on fuel and electricity as part of a package of measures to mitigate the impact of rising energy prices. An official announcement is expected following the Cabinet meeting.
Vigor
The Spanish government plans to announce a significant reduction in taxes on fuel and electricity.
These measures are part of a major economic support package aimed at easing the impact of the sharp rise in energy prices.
The VAT rate on gasoline and diesel will be lowered from 21% to 10%. The plan also includes a reduction of the special 5% tax on electricity and a complete abolition of the 7% tax currently levied on electricity producers.
The anti-crisis package is expected to be officially presented after the Cabinet meeting, which began on Friday before noon.