Yesterday the announcement, today the warning. The First Vice President of the Government and Minister of Economic Affairs, Nadia Calvinohas ensured that “there will be sanctions” for the sector of distribution if the reduction does not affect their prices VAT on food approved this Tuesday by the Executive. Specifically, it deals with the suppression of the super-reduced VAT of 4% on essential foods such as bread, milk, eggs, fruits, vegetables, legumes or cereals and the reduction from 10% to 5% in which it is taxed pastes and oils. This measure, which will come into effect on January 1, will last six months but could be lifted if the underlying annual inflation rate, which excludes unprocessed food and energy, falls below 5.5% (in November it stood at 6.3%), according to the royal decree-law published this Wednesday.
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Calviño has made this warning in an interview on TVE, where he has insisted that he trusts the sector, since “he is aware that he has a special responsibility at this time.” In this sense, he recalled that the royal decree law establishes the obligation for distributors to have a positive impact on this VAT reduction in the shopping cart and for this reason he has remarked that they are going to be “very vigilant and very careful that this is the case.” He has made it clear that the National Commission for Markets and Competition (CNMC) “will have a very clear indication to monitor it and there will be sanctions if it is not complied with.”
“I am confident that the sector will collaborate and pass on this drop in prices that will immediately be felt in the pockets of families”, said the first vice president. The temporary suppression The Government has approved a drop from 10% to 5% of VAT on pasta and olive and seed oils and the elimination of VAT on basic foods, with an estimated cost of 661 million euros and the check in a single payment of 200 euros for households with incomes of less than 27,000 euros a year and assets of less than 75,000 euros, it will be another 1,200 million, as EL PERIÓDICO announced.