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Practical Handbook VAT 2022

Tax rate

The rate is the percentage that is applied to the taxable base to obtain the tax liability.

The rate applicable to each transaction shall be that in force at the time of accrual.

The Law of VAT establishes a general rate and two reduced rates to give favourable treatment to certain transactions, which can be consulted in the following summary table.

General tax rate:

The general rate of tax in force is 21 per cent.

Reduced tax rates

The current reduced rates are 10 per cent and 4 per cent.

  1. Reduced tax rate of 10 percent
  2. Reduced tax rate of 4 percent
  3. 5 percent tax rate
  4. 0 percent tax rate