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VAT practical manual 2021.

What is VAT?

VAT is a tax of indirect nature because it falls on an indirect manifestation of economic capacity, specifically, the consumption of goods and services.

This tax is levied on three different types of operations, namely:

  1. Deliveries of goods and services carried out by businessmen and professionals in the development of their activity.

  2. Intra-community acquisitions of goods carried out by businessmen, professionals or legal entities that do not act as businessmen or professionals, although they may sometimes be carried out by individuals (for example, intra-community acquisition of new means of transport) .

  3. Imports of goods, whoever carries them out, whether businessman, professional or individual.