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A meal of 12 euros in a restaurant will allow the respective consumer to accumulate a credit of 1.51 euros through VAT and deduct it, in the following quarter, in another meal or in a cultural activity, according to EY.
The calculations made by the EY consultancy to the IVAucher measure included in the 2021 State Budget proposal (OE2021) consider that in that total 85% of the amount paid corresponds to food (where the VAT rate is 13%) and the 15% beverages (taxed at 23%).
In a purchase to take away or for home delivery (drinks excluded) that also involves an expense of 12 euros, the consumer will accumulate 1.38 euros in VAT, and for this to happen they must associate their TIN (tax identification number) to the bill.
An expense of 55 euros or 76 euros in a restaurant will allow the customer to accumulate a VAT credit of 6.33 euros or 8.74 euros, respectively, assuming the same breakdown of expenses: 85% for food and 15 for drinks. .
Under the take away regime, the credit will be, in these situations, 6.33 and 8.74 euros, respectively.
The EY simulations follow the government’s budget measure that aims to stimulate private consumption in catering, accommodation and culture activities, three sectors strongly affected by the drop in activity caused by the covid-19 pandemic.
IVAucher allows the consumer to accumulate, during a quarter, a value corresponding to 100% of the VAT incurred in the purchase of services in those sectors and to ‘discount’ it, during the following quarter, in purchases in the same sectors.
The calculation of the amount corresponding to the VAT borne by each person in these consumptions will be made by the Tax and Customs Authority, based on the invoices communicated to the Finance Portal.
To be contemplated, the taxpayer must express their will in this regard since the proposal OE2021 determines that membership “depends on the prior, free, specific, informed and explicit consent regarding the treatment and communication of the data necessary for its operation.”
In practice, with this measure, all VAT incurred in catering (on meals consumed on the spot or in ‘take-away’), accommodation or cultural activities during a quarter, is ‘channeled’ to the taxpayer’s bank card , which you can download on the consumption you make in these sectors during the following quarter.
If at the end of a quarter you accumulate 30 euros in VAT, in the next you will have this amount to discount on the purchases you are making.
If you fail to absorb all the accumulated value of VAT, it will be reverted to deduct from the IRS, through the solution that allows deducting from this tax 15% of the VAT incurred in some sectors, namely accommodation and restaurants.
This deduction to the IRS has a maximum limit of 250 euros per household, but in the ‘IVAucher’ there are no limits, according to Lusa, the undersecretary of State and Tax Affairs.
That is, if someone manages to accumulate a credit of, for example, 320 euros, they can completely discount it on the consumption they make in the following quarter.
