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    The Spanish government will again lower electricity consumption taxes


    June 22, 2022 - CE Noticias Financieras

     

      Madrid, June 22. The Spanish government will approve next Saturday a new lowering of the Value Added Tax (VAT) paid by electricity consumers from 10 to 5 percent, as part of a forthcoming decree of anti-crisis measures.

      The head of the Executive, Pedro Sánchez, announced the measure this Wednesday in Congress and recalled that a year ago the VAT on electricity was already reduced from 21 to 10 percent.

      "With that we are going to protect the families of our country," Sanchez argued in the weekly parliamentary control session.

      The government will extend on Saturday the measures approved a few months ago to counteract high inflation, such as a discount of 20 euro cents per liter of automotive fuel, and will incorporate others for the aforementioned tax cut.

      Recently, Spain began to apply a cap on the price of gas used for electricity generation to lower the bill paid by consumers, as authorized by the European Commission.

      The Spanish Minister for Ecological Transition, Teresa Ribera, said today that the beneficiaries of this measure saved in the last seven days between 25 and 30 euros megawatt hours (MWh).

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