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The market gives approval to Inditex’s Spanish VAT defiance

MADRID | The Inditex Group announced this week that it would completely absorb the increase in VAT from 18% to 21% that the Spanish government will carry out as one of its austerity measures to sustain the State's levels of income. But Inditex said it would not increase the prices of its products. In fact, this counter-price policy will extend to all of the Inditex Group’s chains, from Zara, to Pull&Bear, Massimo…