“IVAUCHER” – Accumulate VAT to be deducted in the future

Portugal’s finance ministry is testing out a new way to boost revenue for the country’s struggling tourism sector - letting local customers use the VAT included in their bills as credit to spend in other tourist venues, such as restaurants and theatres.

The so-called ‘IVAucher’ scheme - IVA stands for VAT in Portuguese - is due to come into effect on June 1st and will apply to hotels, restaurants, and cultural venues.

Customers can decide whether to pay VAT on their bills to the state or retain the amount as credit to spend elsewhere in the tourist sector in the following financial quarter.

Only people tax-registered in Portugal will be eligible for the scheme. Customers provide their tax number when paying the bill, and their credits will be logged in an online portal.

There will be 3 stages:

1. 1^st June – 31^st August: Adding VAT to the invoices on restaurants, hotels and cultural venues
2. September: Validation by the Tax Authority
3. 1^st October – 31^st December: Use of the VAT credit in registered establishments up to a limit of 50% per purchase

Anyone can the join the program at:

·      www.ivaucher.pt

·      IVAucher App (TBD)

·      Saltpay Customers network (identified with this seal)

FAQ’s can be found here.



Sources: Reuters and IVAucher website.