Investigation Launched into Spanish Supermarkets for Alleged Price Gouging Despite VAT Cuts

• Supermarkets in Spain under investigation for not lowering prices despite receiving tax cuts
• Consumer groups have complained about excess profiteering
• Reduction in VAT introduced by government to fight inflation
• Ministry of Consumer Affairs launching inquiry and requesting information from retailers
• Investigation focusing on food price rises, especially on fresh produce and olive oil
• Retailers asked to provide details of prices, profit margins, and cost structures
• Retailers could be fined up to €100,000 for breaking the law
• Ministry reiterates that tax cut should be used to reduce prices for consumers, not increase profits.

Source: theolivepress.es

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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