IGIC and fuel prices to increase

[TenerifePool]

Canarian IGIC has been increased, the general rate which stood at 5% has been increased to 7%. Phone bills previously exempt from IGIC will now be charged at the general rate.

The increase in Fuel Duty will add 5 cents to a litre of 95.

IRPF for Autonomos up from 21.5% to 22.5%.

[golf birdie]

not to worry, the sun still shines and we all know thats what makes the car go:)

[CIM]

What date do the changes take affect? And does anyone have a link to a government site showing all the changes?

[TenerifePool]

What date do the changes take affect? And does anyone have a link to a government site showing all the changes?

My source was El Día. http://www.eldia.es/2012-04-22/canarias/canarias0.htm

Not seen a Government site yet. I'll have a look later when I'm back in the office, gotta go out now to fill the car up..!

And I AM still happy living in Tenerife...

[mike in chayofa]

......The increase in Fuel Duty will add 5 cents to a litre of 95.

The Canary islands are 'duty free', so it is an increase in tax, not duty.

Fuel taxes will see an increase of an extra 5.5 cents per litre to unleaded 98, 5 cents to unleaded 95 and increase the cost of diesel by 10 cents per litre. These are due to be implemented in June.

The worrying thing about these increases to me, is the level of increase in diesel which is ITRO 10%. This is going to affect the price of nearly everything because of the cost of transporting goods around the island, so whilst food will not suffer tax increases, the prices are bound to increase due to transport costs.

[golf birdie]

The worrying thing about these increases to me, is the level of increase in diesel which is ITRO 10%. This is going to affect the price of nearly everything because of the cost of transporting goods around the island, so whilst food will not suffer tax increases, the prices are bound to increase due to transport costs.

which also mean Taxi fares, Excursion busses and the like would need to raise their prices. Its going to get painful for a lot of people for the next couple of years. But don't forget, they can't tax the sun:)

[delderek]

And the 99.9% reduction in the inheritance tax rate for residents, has been removed.

[Muppet]

The Canary islands are 'duty free', so it is an increase in tax, not duty.

Fuel taxes will see an increase of an extra 5.5 cents per litre to unleaded 98, 5 cents to unleaded 95 and increase the cost of diesel by 10 cents per litre. These are due to be implemented in June.

The worrying thing about these increases to me, is the level of increase in diesel which is ITRO 10%. This is going to affect the price of nearly everything because of the cost of transporting goods around the island, so whilst food will not suffer tax increases, the prices are bound to increase due to transport costs.

"Commercial" diesel (whatever that is) is exempt, so all not lost

[9PLUS]

Most of the price increases are temporary

[timmylish]

Most of the price increases are temporary

Have you ever known increases to temporary and revert back at a later date, esp. fuel, fags booze etc?

[9PLUS]

If EVERYTHING went up 10% i'd be happy with that would you?

[TenerifePool]

If EVERYTHING went up 10% i'd be happy with that would you?

If everything went up 10% (including wages) then nothing would change.

[9PLUS]

Nss.....................

[Cruise]

Our hestor said IGIC will go up from July 2012

[kathml]

Most of the price increases are temporary

So was income tax at one point

[slodgedad]

The scariest part of the basic rate of IGIC to me is the part they have not advertised.

The 'chuck away' money on buying property has just increased by ,2000 per 100,000

[bonitatime]

But is that not deductible Slodgedad

[timmylish]

So this now means its a waste of money payine 1/2k more to buy cars with a diesel engine, other than the longevity of their engines of course. Nevertheless 2k takes a bit of getting back. Something over 20k kilometers pa. I reckon.

[golf birdie]

I have also heard it will be illegal to buy anything over for 2,500€ or over with cash. Don't know how true this is.

[timmylish]

I have also heard it will be illegal to buy anything over for 2,500€ or over with cash. Don't know how true this is.

Interesting 'cause c/c,s are considered to be cash! So you want 3 tv,s for new house. Total 2600€,s. How do you buy, just one at a time thereby reducing sales which defeates the whole purpose in getting more cash in!!!!!!!!!!!!

[Muppet]

It is true - cash over 2,500 is now illegal - fine if "caught" is 25% of the transaction - that'll be the missing tax then

[bonitatime]

This is not for individuals it's for businesses and the tourist industry is in some way exempt

[poker]

It is true - cash over 2,500 is now illegal - fine if "caught" is 25% of the transaction - that'll be the missing tax then

They will pay in oro now , no cash needed .


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[mike in chayofa]

.....The 'chuck away' money on buying property has just increased by ,2000 per 100,000

This, of course, makes perfect sense (to someone, presumably) in a depressed property market :confused::confused::confused:

[delderek]

And now I believe, health care is being restricted, unless you prove you pay your taxes etc.

[Muppet]

And now I believe, health care is being restricted, unless you prove you pay your taxes etc.

Again, absolutely correct.