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The Government plans to return 200 million euros to consumers through IVAucher. This tax credit allows the refund to consumers of the VAT paid on catering, accommodation and previous quarter expenses.
Thus, through a coupon system, consumers will be able to recover part of the VAT in the quarter after spending.
This “mechanism allows the final consumer to accumulate the value corresponding to the total Value Added Tax (VAT) borne on consumption in the accommodation, culture and restaurant sectors, during a quarter, and use that value, during the following quarter, in consumption. in these same sectors ”, according to the Government.
“The use of the accumulated value will be carried out through immediate discount on consumption, which assumes the nature of co-payment and operates through interbank clearing through the entities in charge of processing electronic payments that ensure the technical services of the clearing and settlement system ( SICOI) of the Bank of Portugal in the field of processing bank card transactions ”, explains the António Costa executive.
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