Spain's government says it will temporarily eliminate the sales tax on olive oil to help cushion skyrocketing prices.
Bottles of virgin olive oil, sealed with an anti-theft system, are photographed on a shelf in a shop in Barcelona, Spain, Tuesday, June 25, 2024. Spain will temporarily eliminate sales tax on olive oil to help consumers cope with skyrocketing prices, the government said Tuesday. – Spain will temporarily eliminate the sales tax on olive oil to help consumers cope with skyrocketing prices, the government said Tuesday.
Spaniards use olive oil to cook and to garnish sandwiches, salads, vegetables and other dishes. Last year Spanish households consumed on average 6 liters per person, compared to 0.4 liters for international consumers, according to the agriculture ministry. But the rise in prices has made some switch to cheaper cooking oils.
No sales tax will be applied to olive oil from July through September, when it will be taxed at 2% until the end of the year. From then on, it will be taxed at 4% and be considered a basic food stuff.
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