Complete News World

Consumers will have a new period in November to classify IVAucher bills - News

Consumers will have a new period in November to classify IVAucher bills – News

The balance accrued by each taxpayer will be calculated under the IVAucher until the 24th of this month. However, to get around the fact that there are companies that are late in getting the bills to the financing portal, and that Class B taxpayers have to rank the bills in order to be eligible for the program, a new period will be opened. An official source from the Ministry of Finance, said in November, which allows taxpayers who choose to go ahead with the validation of overdue invoices.

To this end, IRS will send an email to the taxpayer notifying them of the opening of this new period, during which they can perform this validation.

Created in the state budget for 2021, IVAucher aims to stimulate consumption in three of the sectors hardest hit by the pandemic – restaurants, accommodation and culture – allowing consumers to collect fully subsidized value-added tax on purchases in those sectors, and then deduct it on new consumption in those sectors. sectors are the same sectors.

The credit accumulation phase took place between June 1 and August 31 and only required the consumer to associate his tax identification number with the invoice. After the clearance phase, which occurs during September, the balance will be used for new purchases (between October 1 and December 31), which may pay up to 50% of the expense amount.

To be able to take advantage of this credit, the consumer must join IVAucher (just to associate their tax identification number with the program), which they can do at any time during the program. So far, according to the same official source, more than 260 thousand people have registered.

See also  Possible overvaluation of home prices requires monitoring, says Banco de Portugal - O Journal Economist

To use the credit, and considering that banks will also join the program, the consumer will simply need to pay with his bank card, with the benefit of VAT (up to 50% of expenses incurred) being credited to his account within the deadline of a maximum of two business days.

That is, the consumer pays the bill in full (for a movie ticket or a meal, for example), and receives up to half of the amount spent on his account within a maximum period of two business days, provided that the IVAucher balance is eliminated. So then.

For merchants, joining the program is simple and free, and if they have a TPA, they just need to plug in their NIF number and the ID of the automatic payment terminals on the IVAucher website.

From next week onwards, an ‘IVAucher Seal’ should be available, which merchants will be able to install in their establishments so that consumers can see where they can tap and redeem their IVAucher credit.

To date, more than 600 companies have been registered – and the number of establishments is even higher as some of them have stores spread across the country.