Portuguese Government regulates the 'IVAucher' programme
Portugal Tax Alert
Following the approval of the 'IVAucher' program by the State Budget Law for 2021, which aims to support and stimulate the accommodation, culture and restaurant sectors, the Portuguese Government has finally defined, through Regulatory Decree no. 2-A/2021, of 28 May, its scope and operating conditions.
Only VAT taxpayers whose main activity code (CAE) is one of those listed in the annex of the mentioned Regulatory Decree are eligible for the purposes of this program.
This program will allow final consumers (individuals) to accumulate the amount of VAT borne on consumption in the aforementioned sectors, during a certain period, and to use this amount in a subsequent period (quarter) on identical consumptions.
Participation in this program is automatic when the payment is made via ATP/POS terminals, otherwise it depends on adhesion requiring payment to be made via the token system.
The program is temporary and is divided into two phases:
- The determination of the credit phase, calculated by the Tax Authority based on the VAT borne by consumers reported in e-Fatura, being this credit communicated in a specific application to be created for this purpose;
- The use of the credit, where consumers may apply the credit determined in the first phase.
It should be noted that the consumer may only use this benefit up to 50% of the value of the good or service in each transaction. Moreover, it should be also noted that this benefit cannot be accumulated with the deductions made to the payable Personal Income Tax (IRS), nor can be included in the expenses borne and reported by professionals (individuals).
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