The entry into force of this Value Added Tax, already postponed twice, came into force on 1 October 2020.
This tax replaces the Consumer Tax, starting in the country with a single rate of 14% for all major taxpayers, large public companies and banks. In this way, it is possible to collect more revenue and is also important for national and foreign investment, since it is more favorable than the current Consumer Tax, eliminating double taxation and reducing fraud and tax evasion.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
