- Foods intended for human consumption and goods utilized in their production would be subject to a 5.5% VAT rate;
- Lower the VAT rate to 5.5% across the whole food supply chain for certain products;
- Impose a 10% VAT on animal food and products used in their manufacturing, as well as certain products used in the production of agriculture.
- Provide a conditional refund of the overpayment by charging the VAT return submitted by December 31, 2024, subject to the issuance of a corrective invoice to the customer to replace and cancel the prior invoice.
- Permit parties to mutually agree to waive the correction invoice procedure up until September 15th.
Source: GVC
