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VAT increase affects footwear

01/07/2010
Spain introduced its first increase in value added tax (VAT) in 15 years on July 1, with footwear one of the products affected by a 2% incease.

Some products carry a reduced rate, which increased from 7% to 8%, but footwear is among the items that, from July 1, will attract a VAT rate of 18%.

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