Spain's new taxes to boost revenue

MADRID, June 28 Fri Jun 28, 2013 9:12am EDT

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MADRID, June 28 (Reuters) - New tax measures announced by Spain's treasury minister on Friday will boost revenue by at least 4.7 billion euros ($6.1 billion), according to a tally of figures the government provided.

Treasury Minister Cristobal Montoro said limiting corporate tax deduction on portfolio losses would bring in 3.65 billion euros, while alcohol and tobacco tax increases would raise 700 million euros. A new tax on fluor gases would also add 340 million euros, he said at a news conference in Madrid.

He did not give exact time frames and he did not state the impact of some of the new taxes and limitations on tax deductions that he announced at a news conference.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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