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New regulations for 2024

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Main tax changes introduced by Royal Decree-Law 4-2024, of June 26, which extends certain measures to address the economic and social consequences arising from the conflicts in Ukraine and the Middle East and adopts urgent measures in fiscal, energy and social matters

VALUE ADDED TAX

  • Tax rate temporarily applicable to basic foodstuffs including olive oil

    From July 1 to September 30, 2024, in accordance with the article of Royal Decree-Law 4/2024 , the 0% VAT rate and 0% equivalence surcharge rate on the following products:

    1. Ordinary bread, as well as frozen ordinary bread dough and frozen ordinary bread intended exclusively for the production of ordinary bread.

    2. The ## bread-making flours

    3. The following types of milk produced by any animal species: natural, certified, pasteurized, concentrated, skimmed, sterilized, UHT, evaporated and powdered.

    4. The cheeses .

    5. The eggs .

    6. The fruits, vegetables, legumes, tubers and cereals, that have the status of natural products in accordance with the Food Code and the provisions issued for its development.

    7. The olive oils .

    From 1 October to 31 December 2024, VAT rate of 2% and the equivalence surcharge rate of 0.26% will apply.

  • Tax rate temporarily applicable to seed oils and pastas

    From July 1 to September 30, 2024, in accordance with article 1 of Royal Decree 4/2024, the VAT rate of 5% and the equivalence surcharge rate of 0.62% will apply.

    From October 1 to December 31, 2024 VAT rate of 7.5% and the equivalence surcharge rate of 1% will apply.

  • Reduction of the tax rate applicable to olive oil.

    With effect from 1 January 2025 , Article 2 of Royal Decree-Law 4/2024 modifies Article 91.Two.1.1.º of Law 37/1992, of 28 December, on Value Added Tax, to include olive oil among the basic food products that are taxed at the reduced rate of 4%.

    Find more information at: Tipos_IVA_2024.pdf (agenciatributaria.gob.es)

Real Decreto-ley 4/2024, de 26 de junio,

por el que se prorrogan determinadas medidas para afrontar las consecuencias económicas y sociales derivadas de los conflictos en Ucrania y Oriente Próximo y se adoptan medidas urgentes en materia fiscal, energética y social.