IVAucher is a temporary voluntary economic stimulus measure. Taxpayers can deduct the value-added tax accumulated in June, July and August from October.For this, they have at least two possible ways to join
Beginning on this Tuesday, June 1, taxpayers can start accumulating value-added tax on purchases made in restaurants, accommodation, and culture. You can start using it from October 1st. The goal of this measure—included in the 2021 national budget and will take effect—is to stimulate domestic consumption in the three sectors most severely affected by the pandemic crisis: catering, accommodation and culture.
The practically widespread restrictions that Portugal experienced at the beginning of the year delayed the entry into force of the measure. But operating between late spring and summer, it usually coincides with the largest period of family spending in leisure activities (such as restaurants and tourist accommodation).
This measure is temporary and voluntary. In short, to accumulate the value of the value-added tax obtained in these three economic activities, as before, it is sufficient to ask for an invoice with a taxpayer number. The discount can be up to 50% of the value of each purchase and can be used from October, and one of the possible methods needs to be followed. However, there is no limit to the value that each consumer will accumulate.
“The logic is that people can use all the VAT they support in June, July, and August. They start to accumulate balances and will be able to use it in October, November, and December,” said the Chancellor of the Exchequer Antonio Men. Explained António Mendonça Mendes. Affairs.
The economic activities covered by this measure must have an economic activity code (CAE) CAE 55-namely accommodation-CAE 56-related to catering and similar activities-and CAE 90 and 91-related to culture-but this also includes artistic and literary activities, Other cultural events, bookstores and cinemas (CAE 47610 and CAE 59140 respectively).
Starting from these Tuesdays, whether taxpayers are interested in accumulating the value-added tax purchased in these three sectors, or just want to include it in the tax deduction in the IRS, the procedure is the same. In other words, in the first stage-accumulation-neither consumers nor businesses need to take any new actions: just request an invoice with a tax number (NIF), no matter what payment method they will use.
This accumulation period will last from June 1 to August 31. In September, the second stage of the process will take place. The tax authority will continue to calculate the cumulative balance and provide the final information-IVaucher balance-to consumers.
Currently, another option is to register online through the IVAucher website (which will be available) and the IVAUcher mobile app. In this case, the process will be redirected to the financial portal to verify the NIF.
But why do you need bank cards and citizen cards? Before entering the final stage, starting in October, when consumers can use discounts, it is necessary to stick to a medium that shows that it hopes to benefit from this temporary stimulus to consumption. The citizenship card will be used once to prove that the taxpayer actually owns the TIN-if present in person. And payments must be all electronic, and there may be one or more taxpayer cards associated with your respective IVAucher “accounts”.
As with consumers, for merchants, nothing has changed until the end of August: so far, invoices have been issued using NIF, and this issue will be communicated to the Tax Office (AT). For the third stage, traders have two options. Or they have an automated payment terminal (TPA) that allows payment by bank card. Alternatively, they will allow customers to make payments via NIF communication-for this they must register on the IVAucher portal and/or update the invoice software via internet access.
In this case, for payment, the customer will confirm the operation in the IVAUcher mobile app-he has installed and registered the app in it. The IVAucher seal-which looks like a travel cleaning and safety seal-will be able to be printed after the trader has registered. There are no fees.