Spain's government says it will temporarily eliminate the sales tax on olive oil to help cushion skyrocketing prices
FILE - A day laborer works at the olive harvest in the southern town of Quesada, a rural community in the heartland of Spain's olive country, on Oct. 28, 2022. Spain will temporarily eliminate sales tax on olive oil to help consumers cope with skyrocketing prices, the government said Tuesday 25, June 2024. Spain will temporarily eliminate the sales tax on olive oil to help consumers cope with skyrocketing prices, the government said Tuesday.
The price of olive oil has increased by 272% since September 2020, according to Spain’s agriculture ministry. A five-liter bottle of olive oil can cost over 50 euros at a Spanish supermarket. The government had already slashed the sales tax on olive oil from 10% to 5% as part of an anti-inflation package.
Inflation Taxes World News General News Article 111401135
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