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Spain Has Increased VAT Rates For Clothing And Other Products Since July 1St.

2010/7/8 10:30:00 33

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From July 1st onwards, Spain

Value added tax

The tax rate will increase by 2 percentage points.

The lowest tax rate (4%) has not been adjusted, such as bread, milk, eggs, books and newspapers, stationery, fruit and vegetables, government housing and medicines, etc. the median tax rate has increased from 7% to 8%, including processed food, water, new housing, pportation, Hotel hotels, cultural performances tickets, hairdressing, decoration, contact lenses, etc. the general tax rate has increased from 16% to 18%, including clothing, tobacco, liquor, cosmetics, commercial real estate sales, automobiles, audio-visual discs, tickets for sports competitions, jewelry and so on.

Spain

The government expects to raise the value added tax rate by 5 billion 150 million euros in the next 12 months.

Inflation rate

The pulling effect is 0.4 percentage points.

Spain's value added tax was levied in 1986, when the tax rate was 12%. Then the tax rate was raised four times in January 1992 (13%), August 1992 (15%), January 1995 (16%) and July 2010 (18%).

Supplement:

Spain's clothing brand Mango (branch and franchise) sales increased 3% to 1 billion 480 million in 2009.

Mango will open 1500th branches this year.

Mango 2010 Summer Series

The Barcelona based women's clothing chain announced its annual results in April 7th.

Compared with 8% in 2008, the turnover growth in 2009 was only 3%, of which foreign market share accounted for 78%.

Brand continues to expand.

Mango now has 431 stores in 100 countries around the world, and the company plans to open stores in Mauritius and New Caledonia this year.

Asia is also one of the goals, including China (59 stores are expected to open), South Korea, Singapore and New Delhi.

Altogether, there are more than 150 new stores.

In Europe, it plans to open stores in Germany, Austria, Holland, Belgium, France, Sweden and the United Kingdom. It also announces that it will open stores in Venezuela, Chile, Peru and Mexico.

Mango opened 161 new stores in 2009, of which 153 were located outside Spain.

2010 is a key year for brands, because the number of stores will reach 1500.

In addition, the brand's online store turnover increased to 11 million 700 thousand euros.

Finally, mango's sub brand HE Homini Emerito men's wear series continues to develop.

The brand, launched in 2008, has now been sold in 137 stores.

And plans to enter Germany, Holland and New Caledonia in 2010.