The Department of Economics and Treasury (MEF) has reiterated its rejection of bills submitted by Congress to temporarily reduce IGV from 18% to 8% and automatically offset the rest of the accumulated IGV tax credit for restaurants. hotels and tourist accommodations.
In its official Twitter account, the ministry clarified that it had given an unfavorable review of these projects, as it believed that the reduced rate VAT it distorts and makes it difficult to apply, complicates the tax system (giving rise to three additional regimes), and encourages business dwarfism and informality.
“Most companies that are restaurants and hotels are not taxpayers VAT. According to statistics from the National Administration of Customs and Tax Administration (Sunat), there were 114,000 taxpayers in these areas in 2021, but more than 50% were registered with the RUS, a regime that is not affected and does not pay VAT”, referred to FEM.
He added that most restaurants and hotels cater to the local population, not tourists. And as of today, they would be recording billing levels similar to those before the pandemic, indicating a recovery in the sector.
fake billing
According to Ministry of Economy and Financethe tax treatment that the projects would provide for the tax credit VAT this would create incentives for false invoices as it would give the invoices cash liquidity.
“It is estimated that this project will have a budget cost of 690 million soles. This estimate does not include a quantification of the increase in financial fraud associated with this project,” he explained.
In general, he adds, countries in the region apply a general value-added tax (VAT) rate to restaurants, such as Argentina (21%), Chile (19%) or Mexico (16%). “The exception is Colombia, which does not apply VAT to restaurants, but the national consumption tax is 8% of the sale price and does not qualify for a tax credit.”
As part of the reactivation FEM He assured that the Government has introduced a number of temporary tax benefits for restaurant and hotel companies, such as deferral of declaration and payment of taxes, suspension of payments on the account, RFS, accelerated return of ITAN and others.
” Ministry of Economy and Finance maintains its position open to dialogue in order to consolidate the recovery of companies in the tourism sector and create conditions for their greater growth and development, always within the framework of fiscal responsibility,” he said.
(According to Andina)
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Source: RPP
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