Reported 8 months ago
Spain will temporarily eliminate the sales tax on olive oil to help consumers deal with soaring prices caused by global inflation and a prolonged drought. The cost of olive oil has risen by 272% since September 2020, leading the Spanish government to take this measure. The tax exemption will be in place from July to September, followed by a 2% tax until the end of the year, and then a 4% tax thereafter, recognizing olive oil as a basic food staple in the Mediterranean diet.
Source: YAHOO