TAXATION
Live events sector

 

Spain’s minister for education, culture and sport, Íñigo Méndez de Vigo, has announced a cut in the rate of cultural value-added tax (VAT) to 10%.
The reduction confirms a manifesto promise by Prime Minister Mariano Rajoy’s People’s Party, which last September pledged to reduce VAT for live entertainment, or “cultural shows” (espectáculos culturales) which has stood at a record 21% since September 2012, when Rajoy increased the tax, which previously stood at 8%.
The tax hike has been catastrophic for the Spanish live industry where revenues from ticket sales fell 27.51% between 1 September 2012 and summer 2013, and the country’s live music industry has only just recently recovered to its pre-2011 levels.
https://www.iq-mag.net/2017/03/cultural-vat-cut-10-percent-spain/#.WNt1xzvyuM9