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Practical Handbook VAT 2022

What is VAT?

The VAT is an indirect tax because it is levied on an indirect manifestation of economic capacity, namely the consumption of goods and services.

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

  1. Deliveries of goods and services made by entrepreneurs and professionals in the course of their business.

  2. Intra-Community acquisitions of goods made by entrepreneurs, professionals or legal persons not acting as entrepreneurs or professionals, although they may sometimes be made by private individuals (e.g. intra-Community acquisition of new means of transport).

  3. Imports of goods, whoever carries them out, whether they are businessmen, professionals or private individuals.