FinMin will not extend VAT reduction on food

"The Ministry of Finance will not extend the reduced VAT rate on food after March 31, 2024," the Ministry of Finance stated in a release.

"In light of the latest inflation readings and forecasts for the dynamics of prices of basic food products covered by the transitional 0% VAT rate, the Ministry of Finance has decided not to extend the periodic reduction of the VAT rate on basic food products after March 31, 2024," the Ministry of Finance wrote in the statement.

The reduced VAT rate on basic food products has been in effect since February 1, 2022. The Ministry of Finance stated that it was introduced with the inflation reading for January 2022 at 9.2% (y/y).

Source: obserwatorfinansowy.pl