Clothing Chamber Criticizes Ambiguous VAT on Foreign Purchases, Proposes Industry Support Fund

The Cámara de Vestimenta criticized the government’s proposal to impose VAT on foreign purchases, calling it “ambiguous.” They suggested using the tax revenue to support the national industry. The sector believes the government’s approach doesn’t address the root problem and is contradictory. They propose that part of the VAT revenue should go to a fund for industrial reconversion. The proposal aims to equalize tax conditions for foreign and domestic purchases, but critics argue it might affect investment and consumption.

Source: ambito.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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