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Restaurants, accommodation and hotels will pay only 8% for VAT from today, Thursday, September 1

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Starting today, Thursday, September 1, the law that reduces the General Sales Tax (IGV) from 18% to 8% for companies that are in the field of tourism or that carry out activities related to restaurants, catering and concessionaires will apply. foods.

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This is done in order to support the economic revival of this business economic segment. The rule would apply until December 31, 2024.

What does the standard say?

According to what is established by the Supreme Decree 013-2013-PRODUCEmicro and small companies will be able to avail themselves of this tax benefit according to their level of sales.

The rule states that are microenterprises those that have annual sales up to a maximum amount of 150 UIT or S/ 690,000.

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While, small businesses have annual sales of more than 150 UIT and up to a maximum amount of 1,700 UIT, equivalent to S/ 7 million 820,000

Micro and small companies may benefit from this rule of the Executive. Photo: The Republic

MEF speaks out in the name of the norm

It is important to emphasize that, a week ago, the head of the Ministry of Economy, Kurt Burneodeclared to be in disagreement with the law promulgated by the Government.

I do believe that the issue of reducing VAT to 8% was not a very successful measure., I had just arrived at the cabinet and found him armed. I told the president and the premier what I thought, but things were already launched and it is not ideal, it cannot be that they reduce taxes for nothing, ”he said at the presentation of the 2023-2026 Multiannual Macroeconomic Framework.

In addition, the MEF had already rejected this law in the past, warning that it would only benefit the largest companies in the sector.

And it is that, despite the fact that it was assured that between 170,000 and 200,000 restaurants would benefit, The MEF revealed that 62,000 businesses will not see this VAT reduction, since they are part of the Single Simplified Regime (RUS) and do not pay VAT.

Minister Kurt Burneo is against the rule that will lower the VAT. Photo: Andean

Finally, the institution warns that the measure would reduce tax collection by S/ 460 million per year, so the State could lose some S/ 1,150 million if the measure is applied until 2024.

Association of Marine and Related Restaurants of Peru against what was said by the minister

The president of the Association of Marine and Related Restaurants of Peru (Armap), Javier Vargas Guimarayassured that his sector does not support the idea of ​​Minister Kurt Burneo.

“We disagree with what was stated by the minister (…) that this tax project (…) benefits the large franchise chains. This is not the case because we have worked for more than a year with congressman Nano Guerra, with congresswomen Silvia Monteza and Leslye Lazo, to support this request on behalf of the more than 68,000 cevicherías in Peru,” Vargas declared in an interview with RPP.

Source: Larepublica

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