Learn how to use IVAucher: next steps
Posted: Thu Dec 26, 2024 4:14 am
June 1st marked the start of the first phase of IVAucher, a Government measure whose objective is to support the tourism, restaurant and culture sectors - those most affected by the COVID-19 pandemic.
Summer was the trigger that led people - who already missed the terraces - to enjoy the heat and another additional advantage: VAT on restaurant, accommodation and cultural bills, when an invoice with a taxpayer number is requested, can be used on purchases from October to December.
After the first phase, September marks the period for calculations and deductions of the amounts to be accumulated in the IVAucher. Only in October will consumers be able to truly enjoy the benefits of the VAT accumulated in these past months.
What are the next steps for IVAucher?
If, in the last three months, your restaurant bills reached 300 euros, you ivory coast whatsapp number database be able to accumulate around 37 euros in VAT and then use this money to pay off half of another restaurant bill between October and December: instead of paying 30 euros, you will pay only 15. And you will still have a limit to spend, for example, in a museum.
50% reduction in invoices
In practice, all invoices for catering, accommodation or culture can be reduced by 50% until the balance accumulated in the previous three months is used up.
According to IVAucher rules, invoices for these three sectors most affected by the pandemic can only be reduced by half, but there is no limit to the amount that can be accumulated. This is because the Government has made it its main objective to stimulate consumption in these sectors.
The VAT credit covered all purchases made up to August 31st and was based on the invoices to which taxpayers associated their NIF.
The different VAT rates
To ensure that purchases and amounts to be spent are always compliant and up to date, consumers should be aware of the different VAT rates in force in these three sectors. These rates are 6%, 13% and 23%.
Furthermore, IVAucher also applies to meals consumed via take-away or delivery, even through platforms such as Uber Eats or Glovo, taking into account that it is the restaurants that issue the invoices.
To benefit you must join
To enjoy this benefit, you must join the program. This membership can be done throughout the period in force. Although payments can be made in cash or by card, to use the accumulated balance on purchases made in these three sectors, you must pay with the cards associated with the account and only at merchants that join the program.
How to use IVAucher in 7 steps
1. Accumulate and then spend
If you have accumulated VAT paid in the accommodation, culture and catering sectors over the last 3 months, IVAucher allows you to spend it as a discount on purchases in these sectors.
Which CAE are covered?
Accommodation, catering and culture. More specifically: 55 - accommodation, including local accommodation; 56 - catering and similar establishments, including cafés, bars or pastry shops; 90 - theatre, music, dance and other artistic and literary activities; 91 - libraries, archives, museums and other cultural activities; 47610 - bookstores; 59 - cinema.
2. When can VAT be accumulated and discounted?
The IVAucher is divided intothree phases:
In the first phase, between June 1 and August 31 , consumers accumulated the amount of VAT paid. To do so, they simply had to request an invoice with a NIF.
In the second phase, during the month of September , the Tax Authority will do the math and set the correct value.
In the third phase, between October 1 and December 31 , consumers can use the accumulated benefit in any of the three sectors covered, up to a limit of 50% per purchase.
3. Monitor your balance
Through the Portal das Finanças page or on mobile phones, through the e-invoice App, where a new field for IVAucher will appear, taxpayers can monitor their balance.
4. You only need to request an invoice
The final credit reflects the invoices to which taxpayers have associated a NIF. Thus, the total amount of VAT paid on consumption in establishments whose main CAE (Economic Activity Code) is catering, accommodation or culture can be accumulated.
5. Can VAT on meals be spent in hotels?
According to the IVAucher rules, there is nothing to prevent a credit obtained from meals or museums from being applied to hotel stays, for example, in the last quarter of the year. It is up to the consumer to decide where they want to use the accumulated VAT.
6. VAT accumulation is automatic, but it is mandatory to join the program
This subscription can be made whenever the consumer so wishes, as long as it is in good time so that the accumulated VAT amount can be discounted. Therefore, although the accumulation of the IVAucher balance is automatic, the use of this benefit requires the taxpayer to subscribe at one of the more than three thousand points of sale of the payment operator Pagaqui, online, through the website or the IVAucher app.
7. How to discount the accumulated amount
Let's see: the program allows the accumulation of the balance to have occurred with purchases made with cards or in cash. However, the discount of the balance implies that the purchase was made with a bank card.
Summer was the trigger that led people - who already missed the terraces - to enjoy the heat and another additional advantage: VAT on restaurant, accommodation and cultural bills, when an invoice with a taxpayer number is requested, can be used on purchases from October to December.
After the first phase, September marks the period for calculations and deductions of the amounts to be accumulated in the IVAucher. Only in October will consumers be able to truly enjoy the benefits of the VAT accumulated in these past months.
What are the next steps for IVAucher?
If, in the last three months, your restaurant bills reached 300 euros, you ivory coast whatsapp number database be able to accumulate around 37 euros in VAT and then use this money to pay off half of another restaurant bill between October and December: instead of paying 30 euros, you will pay only 15. And you will still have a limit to spend, for example, in a museum.
50% reduction in invoices
In practice, all invoices for catering, accommodation or culture can be reduced by 50% until the balance accumulated in the previous three months is used up.
According to IVAucher rules, invoices for these three sectors most affected by the pandemic can only be reduced by half, but there is no limit to the amount that can be accumulated. This is because the Government has made it its main objective to stimulate consumption in these sectors.
The VAT credit covered all purchases made up to August 31st and was based on the invoices to which taxpayers associated their NIF.
The different VAT rates
To ensure that purchases and amounts to be spent are always compliant and up to date, consumers should be aware of the different VAT rates in force in these three sectors. These rates are 6%, 13% and 23%.
Furthermore, IVAucher also applies to meals consumed via take-away or delivery, even through platforms such as Uber Eats or Glovo, taking into account that it is the restaurants that issue the invoices.
To benefit you must join
To enjoy this benefit, you must join the program. This membership can be done throughout the period in force. Although payments can be made in cash or by card, to use the accumulated balance on purchases made in these three sectors, you must pay with the cards associated with the account and only at merchants that join the program.
How to use IVAucher in 7 steps
1. Accumulate and then spend
If you have accumulated VAT paid in the accommodation, culture and catering sectors over the last 3 months, IVAucher allows you to spend it as a discount on purchases in these sectors.
Which CAE are covered?
Accommodation, catering and culture. More specifically: 55 - accommodation, including local accommodation; 56 - catering and similar establishments, including cafés, bars or pastry shops; 90 - theatre, music, dance and other artistic and literary activities; 91 - libraries, archives, museums and other cultural activities; 47610 - bookstores; 59 - cinema.
2. When can VAT be accumulated and discounted?
The IVAucher is divided intothree phases:
In the first phase, between June 1 and August 31 , consumers accumulated the amount of VAT paid. To do so, they simply had to request an invoice with a NIF.
In the second phase, during the month of September , the Tax Authority will do the math and set the correct value.
In the third phase, between October 1 and December 31 , consumers can use the accumulated benefit in any of the three sectors covered, up to a limit of 50% per purchase.
3. Monitor your balance
Through the Portal das Finanças page or on mobile phones, through the e-invoice App, where a new field for IVAucher will appear, taxpayers can monitor their balance.
4. You only need to request an invoice
The final credit reflects the invoices to which taxpayers have associated a NIF. Thus, the total amount of VAT paid on consumption in establishments whose main CAE (Economic Activity Code) is catering, accommodation or culture can be accumulated.
5. Can VAT on meals be spent in hotels?
According to the IVAucher rules, there is nothing to prevent a credit obtained from meals or museums from being applied to hotel stays, for example, in the last quarter of the year. It is up to the consumer to decide where they want to use the accumulated VAT.
6. VAT accumulation is automatic, but it is mandatory to join the program
This subscription can be made whenever the consumer so wishes, as long as it is in good time so that the accumulated VAT amount can be discounted. Therefore, although the accumulation of the IVAucher balance is automatic, the use of this benefit requires the taxpayer to subscribe at one of the more than three thousand points of sale of the payment operator Pagaqui, online, through the website or the IVAucher app.
7. How to discount the accumulated amount
Let's see: the program allows the accumulation of the balance to have occurred with purchases made with cards or in cash. However, the discount of the balance implies that the purchase was made with a bank card.