It has been said that tax and death are the only two certainties in life! This may be a somewhat depressing thought, but in reality it is a true statement.
We are all painfully aware that tax is deducted from our hard earned wages, but of course it is always applied to practically every item that you purchase. From a carton of orange juice to the essential family saloon, the price you pay includes a percentage of VAT (Value Added Tax), which is variable and currently equates to 17.5%.
Even when we are looking to escape on our holidays, we are still subjected to tax. It is therefore important to remember that even your two week package holiday, to include accommodation in Puerto Banus in sunny Spain, is still subject to tax. (more...)