A meal of 12 euros in a restaurant will allow the respective consumer to accumulate a credit of 1.51 euros through VAT and discount it, in the following quarter, in another meal or in a cultural activity, according to EY.
The calculations made by the consultant EY according to the IVAucher measure included in the 2021 State Budget proposal (OE2021) consider that in that total 85% of the amount paid corresponds to food (where the VAT rate is 13%) and 15% to drinks (taxed at 23%).
In a take-away purchase or home delivery (excluding drinks) that also involves an expense of 12 euros, the consumer will accumulate 1.38 euros in VAT, and for this to happen, he will have to associate his TIN (number of tax identification) to the invoice.
An expense of 55 euros or 76 euros in a restaurant will allow the customer to accumulate a VAT credit of 6.33 euros or 8.74 euros, respectively, assuming the same breakdown of expenses: 85% for the meal and 15 for drinks .
In the take-away regime, the credit will, in these situations, be 6.33 and 8.74 euros, respectively.
The EY simulations follow the Government’s budgetary measure that aims to stimulate private consumption in catering, accommodation and cultural activities, three sectors strongly affected by the fall in activity caused by the covid-19 pandemic.
IVAucher allows the consumer to accumulate, during a quarter, a value corresponding to 100% of the VAT incurred in the purchase of services in those sectors and to ‘discount it’, during the following quarter, on purchases in the same sectors.
The calculation of the amount corresponding to the VAT borne by each person in these consumptions will be made by the Tax and Customs Authority, based on the invoices communicated to the Finance Portal.
In order to be contemplated, the taxpayer will have to express his / her will in this sense since the OE2021 proposal determines that adhesion “depends on prior free, specific, informed and explicit consent regarding the processing and communication of data necessary for its operation”.
In practice, with this measure, all VAT incurred in the catering (in meals consumed on the spot or in ‘take-away’), accommodation or in cultural activities during a quarter, is ‘channeled’ to the taxpayer’s bank card, which may discount it on the consumptions you make in these sectors during the next quarter.
If at the end of a quarter you accumulate 30 euros in VAT, in the following you will have this amount to discount on the purchases you are making.
If you are unable to absorb all the accumulated value of VAT, it will be reverted to deduct from the IRS, through the solution that allows to deduct from this tax 15% of the VAT incurred in some sectors, namely, accommodation and restaurants.
This deduction to the IRS has a maximum limit of 250 euros per household, but in the ‘IVAucher’ there are no limits, as the Deputy Secretary of State and Tax Affairs explained to Lusa.
That is, if someone succeeds in accumulating a credit of, for example, 320 euros, they can fully discount them in the consumptions they make in the following quarter.