He Congress Plenary unanimously approved the replacement text of bills 5304,5586,5705, 5792, 5835 and 5873 that pThey propose establishing strategic measures and economic and tax provisions to strengthen the book and reading ecosystem in the country. The text was also exempt from the second vote.
The rule exempts from the General Sales Tax (IGV) the import or sale in the country of books and related publishing products. Likewise, it is indicated that electronic books or e-books must be included in this provision.
Besides, The VAT tax refund is provided. “Book publishers have the right to a tax refund equivalent to the General Sales Tax (IGV) recorded separately in the payment receipts corresponding to their acquisitions and imports of capital goods, raw materials, inputs, electronic pre-press services and graphic services for the production of books and related publishing products,” he specifies.
Also Copyright royalties are free of Income Tax. “The royalties received by national and foreign authors and translators, domiciled and not domiciled in the country, for books or related publishing products are exempt from Income Tax (IR),” he mentions. This provision is valid for 3 years starting on January 1, 2024.
The Ministry of Economy and Finance (MEF) has a maximum period of up to 90 days from the entry into force of the law to prepare its regulations. regarding tax scope. While the supreme decree with the general regulatory norms must be promulgated within a period of no more than 180 days. The legal device must be endorsed by the MEF and the Ministry of Culture.
Source: Larepublica
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