Latest / STR Unpacked / Twenty-One Per Cent, Postponed
Transcript
- Ben: Good morning and welcome to your short-term mental bulletin on the 29th of July. So Spain's 21% VAT on tourist lights was supposed to land yesterday, and it didn't. The housing decree was on the table for Tuesday's Consejo de Ministros, the last one before the summer break, and it was pulled. The housing ministry says it now goes to September. The reason is arithmetic. The government does not have the votes. Podemos Won't back a text carrying the Le de Suelo reform. Hunts and the PNV have their own objections and some of them contradict each other. Then the EFE asked Pedro Sanchez directly whether he could guarantee September. He didn't. He said housing is the priority and that this is a government in a parliament minority. It now has to weave those alliances. Then he passed a question to another minister. So, what is parked? VAT 21% on shortlets, fines up to a million euros for platforms listing a property without a license or registration number. That one came from Bidale. Plus two-year tenancy extensions and the seasonal LED rules. Right now, a tourist let pays no VAT if you just hand over the keys, and 10% if you add hotel style services. So this is a jump from 10% or from nothing at all. Fedua Thor, AVVA Pro and Apato want 10% locked in instead, arguing EU fiscal neutrality. Their sharpest point is a part hotels would pay 21% rather than a hotel next door would pay 10%. And remember, approval is only step one. Congress still has to convalidate within 30 days. So it isn't dead, it's parked. And the same mass that stopped in July applies again in September. So model it, but don't price it in yet. And thank you for watching, and I'll see you tomorrow.