Spain lowers price cap on COVID-19 masks to 62 cents

MADRID (Reuters) - Spain's health ministry on Thursday lowered a price cap on health masks used to curb COVID-19 contagion to 0.62 euros ($0.73) per mask to take into account a cut in value-added tax announced this week. The use of masks covering the nose and the mouth to prevent coronavirus contagion has been mandatory for months in Spain for people from the age of six.

Reuters November 20, 2020 00:11:07 IST
Spain lowers price cap on COVID-19 masks to 62 cents

COVID-19 masks to 62 cents" src="https://images.firstpost.com/wp-content/uploads/reuters/11-2020/20/2020-11-19T164110Z_1_LYNXMPEGAI1GM_RTROPTP_2_HEALTH-CORONAVIRUS-SPAIN-MASKS.jpg" alt="Spain lowers price cap on COVID19 masks to 62 cents" width="300" height="225" />

MADRID (Reuters) - Spain's health ministry on Thursday lowered a price cap on health masks used to curb COVID-19 contagion to 0.62 euros ($0.73) per mask to take into account a cut in value-added tax announced this week.

The use of masks covering the nose and the mouth to prevent coronavirus contagion has been mandatory for months in Spain for people from the age of six. The country has the second-highest number of cumulative infections in western Europe.

The cut in the price cap takes into account the government's decision on Tuesday to cut value-added tax on single-use masks to 4% from 21%, which came into effect on Thursday. It was the second cut in the maximum retail price for single-use masks in a week as the cap had already been lowered late last week from a previous 96 cents.

On the streets of Madrid, some residents wished the government had slashed the VAT earlier.

"I think that it's very good and I think they should have done it before. It's something we are obliged to wear and some people have very little economic resources," massage therapist Elisabeth Carrascosa said.

There is no price cap on reusable masks made out of fabric.

($1 = 0.8455 euros)

(Reporting by Belen Carreño, Inti Landauro and Michael Gore; Editing by Ingrid Melander and Susan Fenton)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

U.S. job openings rise slightly in September
Business

U.S. job openings rise slightly in September

WASHINGTON (Reuters) - U.S. job openings increased moderately in September and layoffs appeared to abate, pointing to a gradual labor market recovery from the COVID-19 pandemic.

Central bankers seek new role in brave new world
Business

Central bankers seek new role in brave new world

By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) - Taking a break from fighting the coronavirus crisis, the world's top central bankers will attempt to resolve the existential questions of their profession this week as they tune into the European Central Bank's annual policy symposium. Having struggled to lift anaemic inflation for years, officials including the heads of the ECB, the U.S. Federal Reserve and the Bank of England will attempt to figure out why monetary policy is not working as it used to and what new role they must play in a changed world - be it fighting inequality or climate change.

Asian stocks extend gains as vaccine hopes support global reopening
Business

Asian stocks extend gains as vaccine hopes support global reopening

By Lawrence Delevingne BOSTON (Reuters) - Asian shares rose on Wednesday as hopes for a successful coronavirus vaccine lifted expectations of a swift reopening of the global economy, which would help the region's heavily trade-dependent markets.