The Canary Island in its 2020 budget is to reverse the 2019 Canary Islands VAT (‘IGIC’) rise. It is now planning to increase IGIC from 6.5% to 7% on 1 January 2020.
In addition, the luxury goods VAT rate would rise from 13.5% to 15%. Also, the 3% rate would be re-imposed on non-domestic electricity supplies.
Sales tax rates, rules, and regulations change frequently. Although we hope you'll find this information helpful, this blog is for informational purposes only and does not provide legal or tax advice.
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