The price drop of the food basket, covered by the VAT exemption measure, amounted to 10.14% until September 4, the Ministry of Economic Affairs announced on Monday.
The Monitoring Committee for the Pact for the Stabilization and Reduction of the Price of Food Commodities met on Monday at the Ministry of Economy and the Sea.
“From the beginning of the validity of the measure (April 18) until September 4, the drop in food prices amounted to 10.14%, demonstrating a sustained and progressive decline in food prices. During this period, the above-mentioned basket fell under the heading”points out in a statement that the ministry is supervised by António Costa Silva.
The pact between the government, the Confederation of Farmers of Portugal (CAP) and the Portuguese Association of Distribution Companies (APED) provides, among other things, for the application of a zero value added tax (VAT) rate on 46 products, including beef , cheese or olive oil.
Present at last Monday’s meeting were CAP, APED, the Competition Authority (AdC), the Food and Economic Safety Authority (ASAE), the Customs Tax Authority (AT), the Directorate General for Economic Activities (DGAE), the Directorate General for Consumer Affairs (DGC) and the Ministry of Agriculture’s Bureau of Planning, Policy and General Administration (GPP).
On the government side, the Prime Minister’s Deputy Minister of Foreign Affairs, António Mendonça Mendes, the Secretary of State for Tourism, Trade and Services, Nuno Fazenda, and the Secretary of State for Agriculture, Gonçalo Rodrigues, were present.
On Thursday, the Council of Ministers approved the extension of the temporary VAT exemption on food baskets until the end of the year.
The measure exempting a range of 46 food products from VAT came into force in April and will remain in force until the end of the year.
The choice of products took into account the healthy food basket of the Ministry of Health and data from distribution companies on the products most consumed by Portuguese.
Source: DN
