In a significant move to support consumers, the government has announced an extension of the zero VAT rate on essential food items. The Royal Decree-Law 4/2024, dated June 26, 2024, confirms that basic foodstuffs such as bread, flour, milk, cheese, eggs, fruits, vegetables, legumes, tubers, and cereals will continue to enjoy a VAT exemption until September 30, 2024. In addition to these items, olive oil, a staple in many households, will join the list of products benefiting from the zero VAT rate starting July 1, 2024. This measure is part of a broader effort to alleviate the financial burden on families and ensure that nutritious food remains affordable for all.
The latest VAT rate update in Spain
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Spain
Author: Kristina Dosen
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Fiscal subject related
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Content accuracy validation date:
09.07.2024
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08:16h
The decree also outlines a phased approach to the reinstatement of VAT on these items. From July 1 through September 30, 2024, the zero rate will remain in effect. However, starting October 1, 2024, a minimal VAT rate of 2% will be applied, which is still significantly lower than the standard rates. This interim rate will last until the end of the year, after which the original VAT rates will be restored on January 1, 2025.
This temporary relief is expected to provide substantial savings for consumers during this period, reflecting the government's commitment to supporting economic stability and the well-being of its citizens.
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