Spain Will Increase Fuel Tax Rates

Spain Will Increase Fuel Tax Rates

The best immigration information regarding Spain's fuel tax rate increase is available on the WorldWay Immigration Investment website.

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For those interested in immigration to Spain and news about Spain: According to specific reform proposals submitted by the European Commission to the Spanish government, the Spanish government will raise fuel tax rates to the EU average level, which will result in an average increase of 7.5% in fuel prices in Spain, with gasoline prices rising by 9% to reach 1.6 euros per liter, and diesel increasing by 6% to exceed 1.4 euros per liter.

Currently, taxes on gasoline and diesel in Spain account for 50% and 45% of retail prices, respectively, which is lower than the EU averages of 57% and 50%. The deadline for Spain to increase tax rates as required by the EU is March 2014. In 2012, fuel consumption in Spain decreased by 6.1% year-on-year, with a decline of over 10% in the first quarter of this year.

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