| Author (Person) | Davies, Pascale, Mallet, Victor |
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| Series Title | Financial Times |
| Series Details | 20.8.11 |
| Publication Date | 20/08/2011 |
| Content Type | News |
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Spain’s government halved the tax on new home purchases on the 19 August 2011 in a fresh move aimed at stimulating the stricken property market while trying to reduce the nation’s budget deficit. Value added tax on new flats and houses will be cut to 4% from 8% until the end of 2011 following appeals from indebted construction companies and property developers. The weekly cabinet meeting on the 19 Augsut 2011 also approved previously announced measures to raise an extra €5bn for the exchequer in 2011. |
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| Countries / Regions | Spain |
