The Ministry of Finance reported on Wednesday that public higher education will remain exempt from the payment of value added tax (VAT), and this was registered in the text that replaces the Public Finance Strengthening Bill Project.
With the purpose of not misleading the public, a legislative motion will be presented where it will be specifically clarified that both the enrollment and credits in public universities will not pay VAT,”
said the entity in a statement released on Wednesday morning.
Private university education, on the other hand, would pay 2% of VAT.
Regarding the measure that establishes the collection of taxes from universities, the Acting Minister of Finance, Nogui Acosta, explained that all public institutions will pay taxes, not just higher education centers.
This provision aims to make tax spending more transparent and reduce the complexity of the tax credit to companies that sell to the State,”
said the deputy minister.
Acosta said that this additional payment for taxes will be later recognized in the budget assigned to each institution.