VAT-IVA just went up! What about tour prices?
VAT* IVA* was raised tonight at midnight, effectively 7.1% more. Though presented as a move from a previous 14% to the new 15% rate.
We knew this punch was coming by the newspapers, but the craziness is that this law was published at 5pm, meaning that you have as a business 7 hours to adapt.
Now let's imagine the 10 million people that will see in just 7 hours prices going up and the invoicing software that will have to be update today, July 1st.
But worst, the huge amount of people that will still invoice with the wrong VAT rate.
We will take this punch in the stomach and no prices will be raised.
As a tourist activities company we have to charge the maximum VAT and over the last 6 years we have seen several rate changes.
2005: 13% to 15%
2008: 15% to 14%
2010: 14% to 15%
The fact is that we never changed our prices for the benefit of the customers...
*Value Added Tax
*Imposto sobre o valor acrescentado
Posted
by Hugo Romano
