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Ivaucher is launched by the Government and starts as early as June

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One of the measures of the State Budget for 2021 that aims to help and support restoration, accommodation and culture will be launched on June 1, in ten days, according to Pedro Siza Vieria, Minister of Economy and Transition digital.

When the new program was announced last year, the goal was to start in the first quarter of 2021, however, and taking into account that the pandemic was not yet under control, the postponement of this new program made perfect sense and will begin at the beginning of summer, where, also, the greatest practice related to summer holidays usually starts.

For now the Government has not yet fully explained how the new platform will work, or from what date consumers will be able to enjoy it, and it is expected that the Secretary of State for Tax Affairs, António Mendonça Mendes, will explain it better in the next days.

Ivaucher is launched by the Government and starts as early

The idea of ​​this new program is that, automatically, all taxpayers who ask for an invoice with a Taxpayer Number (TIN) for catering, accommodation and culture during a quarter, will be able to use part of the value of the UVA in question in the same sectors, in the following quarter, with the state budget making 200 million euros available for this initiative.

Thus, the high season quarter should be covered, so that, afterwards, consumers can use the part of the VAT returned in the last quarter of the year. Theoretical functioning will be very similar to what we have seen in supermarket cards, in which a percentage of the purchase amount reverts to the card to be used in the future, which the government believes will boost and help merchants in the most affected areas, which it is the restoration, the accommodation and the Culture.

The company that won the public tender for IVAucher was Pagaqui, a Portuguese payments company, which turned out to be the only competitor, and SIBS, the manager of the ATM network and who had also said that it should be a possible competitor, it turned out not to be.

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