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VAT exemption for specific food product imports and transfers and food products

In an era of high energy prices, overall inflation and even recession on the horizon for certain countries- it is expected that countries will respond by adjusting VAT rates.     Portugal has exempted the import and transfers of specific food products, effective 18 April 2023 to 31 October 2023, from VAT.   The full list can be found here.   Portugal has taken the tax rate concessions even further and confirmed the zero VAT rate for specific food products. Law No. 17/2023 confirms the full list of products subject to the zero VAT rate.      

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