LEGAL UPDATE: NORMAL VAT RATE IN AZORES DROPS TO 16% FROM THE 1ST OF JULY
From the 1st of July the normal VAT rate in Azores will be 30% lower than the national normal rate, the maximum level legally admitted, going from 18% to 16%.
Following the approval of the Plan and Budget for the Autonomous Region of Azores, from the 1st of July the normal VAT rate in Azores will be 30% lower than the national normal rate, the maximum level legally admitted, going from 18% to 16%.
Therefore, from 1 July, VAT in the Azores will be 4%, 9% and 16%, equivalent to the reduced, intermediate and normal rates, respectively.
Dynamics Setup
To setup the new VAT rate, select the VAT codes defined for Azores and normal rate and on Values:
- Change the end date for the active rate line to 30/06/2021;
- Setup a new line with start date of 01/07/2021 and the end date in the future (ex: 31/12/2050)
- On the new line, configure the rate of 16%.
If you have different scenarios configured (like VAT codes identified with the VAT rate), new Item VAT groups and VAT codes may be required.
ARQUICONSULT SUPPORT
If you want ARQUICONSULT to carry out this update or any other type of support, please request it via Service Request in our support platform https://support.arquiconsult.com/.
