Paraguay has published Decree No. 5232 of 10 May 2021, which provides for the introduction of a special VAT regime in light of COVID-19 for the provision of immovable property leasing services for business activities, including property intended for the provision of personal and professional services. The special regime includes that VAT taxpayers leasing real estate for business activities will calculate and pay the corresponding VAT by applying the 10% VAT rate on 50% of the taxable amount. For the purpose of the special regime, business activities are understood as activities subject to corporate income tax (IRE). It also is...