- The 2026 draft Budget Bill was presented to parliament with changes to reduced VAT rate items.
- Olive oil production will shift from a 23% VAT rate to 6% in mainland Portugal and 4% in Madeira and Azores from January 1, 2026.
- This aligns the VAT rate for olive oil production with the reduced rate for final olive oil products.
Source: meridianglobalservices.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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