Huge cut in VAT for CDs, books
Published on 29/04/2004
29 April 2004
MADRID – VAT on CDs and books will be cut dramatically, the Culture Minister Carman Calvo announced Thursday.
The tax on musical products and books will be reduced from 16 percent to between 4 and a “symbolic” 1 percent, said Calvo during an interview on radio station Cadena Ser.
She said this was a significant cut in the price of CDs and books “so that our citizens can buy cultural things and our creators can live professionally”.
Calvo added that the government believed the VAT on these items was too high.
She also said she believed the cut in VAT would help fight pirating of music.
[Copyright EFE with Expatica]
Subject: Spanish news