Paraguay Halves Tax for Travel, Hotel Sectors Hard Hit by Virus

Paraguay is cutting taxes on the hospitality sector to help it recover from impact of the coronavirus pandemic.

Under a decree signed by President , the value-added tax will be reduced from 10% to 5% for hotels, hostels, restaurants, cafes, and tour operators from Aug. 1 through June 30, 2021.

  • The reduction also applies to VAT applied on property rent paid by these businesses.
  • The move will improve liquidity in the sector, which includes international operators such as Accor, InterContinental Hotels Group, Marriott International, and Wyndham Hotels and Resorts.
  • “We…

Read original article here.

What do you think about this article? Click To Tweet