On December 30, 2021, Law nº 32/21 was published, approving the General State Budget for the fiscal year 2022 (OGE 22), whose most relevant changes in tax matters are highlighted below:
VALUE ADDED TAX (VAT)
- Reduction to 7% of the VAT rate on the provision of hotel and restaurant services, if certain requirements are met in terms of the tax status of these taxpayers;
- Application of reduced rates of 5% and 7% for products listed in Annex I of the State Budget 22, which include, among others, food products;
- Maintenance of the Simplified VAT Regime, as it already existed, for taxable persons who, during 2021, had a turnover or import operations equal to or less than AKZ. 350,000,000;
- Maintenance of exclusion from the scope of VAT for individuals or companies whose turnover or import operations is equal to or less than AKZ. 10,000,000;
- Payment of Stamp Duty at the rate of 7% for taxpayers of the Simplified and General Regimes who exclusively practice exempt operations, excluding air transport services for passengers in international traffic and the rental of real estate.
CORPORATE INCOME TAX
- Deductible VAT that, for whatever reason, has not been deducted by the taxpayer, is not accepted as a cost for Corporate Income Tax purposes;
- Change to 6.5% of the Corporate withholding tax due on the payment of services provided by non-resident entities.
On.Corporate expresses its total availability to provide any additional information to the above or clarify and doubts or questions related to this topic.
