- Paraguay’s executive branch issued Decree No. 2063/24 on 9 July 2024 for a new shopping tourism regime
- The regime applies to importers and traders of certain goods, including food, beverages, cosmetics, clothing, and electronics
- Aims to stimulate trade in border cities for individuals not domiciled in Paraguay
- Taxpayers must meet certain requirements to register for the regime, including proving business experience and having a minimum capital and bank balance
- Registered importers can nationalize products listed in the decree’s annex at a reduced VAT rate of 1.25%
- VAT paid on importation is considered final when products are sold to tourists or registered taxpayers exempt from VAT
- Previous authorizations under the tourism regime will be valid until 31 August 2024
Source: taxathand.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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