The President of the Republic, issued the Executive Decrees 643,
644 and 645 on January 10, 2023, by which the reduction of the
following taxes tariffs was ordered:
1. Gradual reduction of the Foreign Exchange
Tax (ISD) according to the following schedule:
a. As of February 1, 2023, the tariff of the
Foreign Exchange Tax will be 3.75%.
b. As of July 1, 2023, the tariff of the
Foreign Exchange Tax will be 3.50%.
c. As of December 31, 2023, the tariff of the
Foreign Exchange Tax will be 2%.
2. Reduction of the Value Added Tax (VAT)
tariff from 12% to 8% levied on the provision of services related
to tourism activities during the following holidays:
a. Carnival: February 18, 19, 20 and 21,
2023.
