THE acting government of Spain has said it will raise €8 billion by the end of the year by requiring companies to pay more of their tax bill upfront.
A spokeswoman for the Treasury Ministry said it has been briefing political parties on the tax overhaul, which is to be signed off today.
Spain is scrambling to decrease its deficit in a bid to avoid potentially devastating fines for repeatedly missing targets set by the EU.
The conservative Partido Popular had previously estimated that it would raise €6 billion from the tax changes, but it has now increased that figure to €8 billion.
Despite Spain’s growing economy, doubts are growing over its ability to meet the targets.
The European Commission is requiring the country to reduce its deficit to 4.6% by the end of 2016, but a Bank of Spain forecast projects it will only fall to 4.9%.
- HAPPY RETURN: How British expats in Spain can plan for retirement back in Britain - 18 Jan, 2019 @ 17:44
- SCAM ALERT: Pensioners claim British conwoman tried to coax them from bus stop into ‘fake shuttle’ on Spain’s Costa del Sol - 18 Jan, 2019 @ 16:22
- WATCH: Terrifying moment HUGE spitting COBRA acosts workers at port in southern Spain - 18 Jan, 2019 @ 14:54
- WATCH: Vile video shows SEWAGE flowing onto popular beach in southern Spain - 18 Jan, 2019 @ 13:47
- Little Julen and family pictured amid reports rescuers have found DNA - 16 Jan, 2019 @ 14:38
- Police in Spain rescue young man attempting to jump off Ronda bridge - 16 Jan, 2019 @ 14:15
- Police confirm little Julen IS inside the Malaga well after DNA found on fourth day of search - 16 Jan, 2019 @ 12:59
- ‘He loves his tricycle’: Neighbours describe ‘friendly’ toddler Julen and his family’s history of heartbreak as search for tot in Malaga well continues - 15 Jan, 2019 @ 19:35
- Drilling expert claims it’s ‘almost impossible’ for little Julen to have fallen down Malaga well as builder claims he sealed up hole just WEEKS ago - 15 Jan, 2019 @ 18:15
- HEART-WRENCHING: Parents of trapped boy have slept next to Malaga well since Sunday and are ‘dead inside’ as rescue attempt enters THIRD day - 15 Jan, 2019 @ 14:22