Spain's IVA income is third-lowest in EU
Saturday, December 23, 2017 @ 9:07 PM
SPAIN earns less in IVA than any other country in Europe except for Ireland and Italy in relation to its GDP, according to EU statistics agency Eurostat.
Although IVA income has gone up from its historic low of 3.9% in 2009, one of the worst years of the financial crisis, it is still well below the EU average and has dropped from the 6.5% of the GDP recorded in 2015.
At 6.4%, Spain's earnings from value-added tax are greater than Italy's 6.1% and Ireland's 4.7%, but are lower than any other EU member State.
In 2016, the European Union average was 7% of the GDP across the 28 countries, although slightly lower in the Eurozone, at 6.8%.
But IVA earned by the State varies considerably by country across Europe, with some nations amassing over 10%.
Read more at thinkSPAIN.com