Temporary and extraordinary reduction of the VAT rate between January 1 and June 30, 2023

• 5% is applied to olive and seed oils.
• 0% to common bread, bread-making flour, certain types of milk, cheeses, eggs, and fruits, vegetables, legumes, tubers, and cereals.

However, if the interannual rate of underlying inflation for the month of March is less than 5.5%, this reduction in the VAT rate will cease to be applicable as of May 1, 2023.

• The reduction in the VAT rate of 5% on deliveries, imports and intra-community acquisitions of natural gas, briquettes and “pellets” from biomass, and wood for firewood is extended for the entire year 2023.

Source: audiconsultores-etlglobal.com

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