5% IVA value-added tax return extended

The five percent IVA value-added tax return on debit card purchases plan has been extended until December 31st, 2010, government officials announced.

According to resolution 403, published on the Economy Ministry's Official Gazette, "the reasons that allowed for this retribution mechanism applied to debit card purchases to be implemented, are still valid."

Goods and services purchased with a debit card get a 5 percent IVA value-added tax return since 2001, which has been a useful move to stimulate consumption.

The Ministry's resolution also clarifies that "fuel and gas purchases are exempted" from the tax return.


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