Inflation & Prices
Spain Adds Olive Oil to VAT Exemption Running Until September 30
- Exemption will be extended until the end of September
- Value-added tax rate on olive oil will drop from 5% at present
A worker labels plastic bottles of olive oil.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Spain will exempt olive oil from paying value-added tax as part of a broader inflation-relief package.
Days before it expires, the government will extend a 0% VAT rule on certain food products to Sept. 30, according to an emailed statement. This means milk, bread, flours, fruit, vegetables, cheese, cereals, eggs and legumes will continue to be free of VAT. The levy will drop to 0% from 5% for olive oil.