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VAT reduction on food is being studied

23 MÄRZ 2023
Themen
Governo Inflação Supermercados Despesas
The Government has already admitted it is studying measures to help families in the face of rising food prices.
VAT reduction on food is being studied
Source: Pexels
Author: Redaction

Last Wednesday, 22nd March, António Costa said that a plan of measures to combat price rises was underway, aimed at supporting families due to the galloping inflation that has been felt in the purchase of food consumer goods in recent months. In February, inflation reached 20.5%, and was considerably higher for most goods, both in the eurozone and in Portugal.

The Prime Minister said, on this issue, that "the Government will work with the sector to act on prices". In this scope, negotiations will be carried out with producers, through State aid, with the aim of reducing production costs for the food sector. 

As well as these negotiations, on the table is the "reduction of taxation, that is, VAT, and the guarantee that this reduction is translated into an effective reduction, and stabilisation of prices that effectively benefits consumers", according to the Government. All of this is aimed at fighting inflation, reinforced, also, with a set of measures that are being discussed and that foresee support for the most vulnerable families, in what the Government calls a "triple dimension" - considering that the first is the negotiation with the sector's producers and the second is the reduction of VAT on food products. 

This triple action thus covers "an agreement with distribution but also with production", ensuring that there is correspondence between the three dimensions of these measures in order to ensure that the VAT decrease has the intended effect.

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Governo Inflação Supermercados Despesas
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