Spain Considers Lowering Cultural VAT

The Spanish Government is considering lowering the rate of value added tax (VAT) applied to cultural goods and services according to Spain's Prime Minister Mariano Rajoy. The current rate is 21%, raised from 8% in September 2012 due to extreme economic pressures in the country. It is the highest cultural VAT rate in Europe.

The consideration to lower the rate is a result of the strong negative impact the high VAT rate has had on Spain's cultural industries, such as cinemas, theaters, concert hal…