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Paraguay extends VAT exemptions

  • Apr 16, 2014 | Richard Asquith

Paraguay extends VAT exemptions

Value Added Tax (Impuesto al valor agregado IVA) exemptions in Paraguay have been extend to a new range of products and services. VAT in Paraguay is charged at 10% standard rate, with a reduced rate of 5%.

New VAT exemptions on the following taxable supplies:

  • Petrol and bio fuels
  • Cultural and sport supplies from not-for-profit organizations, including political parties
  • Electronic and printed books and newspapers
  • Equipment and hardware for schools and universities
  • Trading in shares and foreign currencies
  • IT supplies for the benefit of children

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.