On January 10, 2023 the President of the Republic issued Executive Decree No. 644 through which the Value Added Tax (VAT) rate was reduced from 12% to 8% for the rendering of services associated with tourism activities in favor of individuals or corporations; the following is a detail of the services related to such activities:
The reduction will apply for the November holiday:
For more information, do not hesitate to contact our Tax Practice Partner, Ivan Garcia (email@example.com).
This publication contains information of general interest and does not constitute legal opinion on specific issues. Any analysis will require legal advice from the Firm.