Portugal’s finance ministry is testing out a new way to boost revenue for the country’s struggling tourism sector – letting local customers use the VAT included in their bills as credit to spend in other tourist venues, such as restaurants and theatres.
The so-called ‘IVAucher’ scheme – IVA stands for VAT in Portuguese – is due to come into effect on June 1st and will apply to hotels, restaurants, and cultural venues.
Source: Reuters
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