Paraguay President Signs Decree Extending Reduced VAT Rate for Transport Sector

The Paraguayan President’s Office Aug. 23 published Decree No. 7689, extending the reduced 10 percent VAT rate on 50 percent of the amount for services of the transport sector to Dec. 31 from Sept. 30. The reduced rate applies to: 1) national medium and long-distance passenger transport, which isn’t already exempted from the VAT; 2) public transport provided through taxis; 3) school transport; 4) national and international cargo transport; and 5) other similar services. From Jan. 1, 2023, onwards, taxpayers in the transport sector must pay the tax according to the general VAT regime. [Paraguay, Office of the President, 08/23/22] ...