Spain becomes the country with the lowest VAT rate in Europe for electricity after the decision of the Sanchez government.
The Spanish government is ready to announce another measure to stem the tide of electricity precision.
According to information coming from Spain, the Sanchez government is working on a plan to reduce the VAT on electricity from 10 to 5%.
If the plan is approved, which is expected to be done by Saturday, Spain will become the country with the lowest electricity VAT in Europe.
This decision of the Spanish Prime Minister Pedro Sanchez seems to have hastened the defeat of his party in the recent local elections in Andalusia when he lost the lead after many years from the People's Party.
The decision is taken despite the European Commission's recommendation to avoid tax cuts as a measure with dubious effects on consumers.
