2024-04-13 20:22:04
The Ministry of Production, Foreign Trade and Investments issued the provisions for the labels of products that must already mark the Value Added Tax (VAT) at 15% from April 1, 2024after the validity of the Law to Address Internal Conflict and the justification of the Ministry of Economy and Finance (MEF) to increase it to that percentage.
Through a ministerial agreement, the State portfolio has authorize suppliersdistributors and marketers of goods and industrialized products the use of labels on products with VAT at 12% until their inventory is exhausted and the maximum period is up to 180 days, counting from April 1, 2024.
Furthermore, it points out that suppliers, distributors and marketers of industrialized goods and products, They must implement all appropriate and timely information means so that the consumer can know the final prices of the same.starting April 1, 2024.
Finally, it is pointed out that the Undersecretary of Quality of the Ministry of Production, Foreign Trade, Investments and Fisheries, through the Market Control and Surveillance Directorate, coordinate compliance with these provisions. l; as well as all the actions necessary for its effective execution.
Likewise, in the event that subsequent modifications are made to the general VAT rate; By the President of the Republic, suppliers, distributors and marketers of industrialized goods and products may maintain the previously used label until their inventory is exhausted; by the next 180 days term.
By: KCH