5.4.3 Settlement
The VAT will be settled on account by presenting settlements for the first three quarters of the calendar year. The final result will be obtained in the final settlement corresponding to the fourth quarter.
Those who carry out the activity of transporting passengers or goods by road, pay taxes under the simplified regime of VAT , have borne tax-deductible amounts for the acquisition of means of transport related to said activity, With certain requirements, they may request the return of said fees if they have not entered and are not going to enter, the aforementioned deductible fees in the quarterly self-assessments corresponding to the simplified regime. The refund request is made by presenting the model 308 , online, within the first 20 calendar days of the month following the one in which the corresponding means of transport was purchased.
Quarterly settlement. Deposit on account
PHASE 1:
PHASE 2:
PHASE 3:
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RESULT
With the quarterly self-assessments, form 303, a deposit will be made on account of the final result.
The amount to be deposited is determined:
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Amount for current operations. The percentage corresponding to the activity is applied to the annual amount of fees accrued for current operations, according to the modules and indices referring to January 1 of each year or the start date if later.
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Amount of the rest of the operations. The previous result is increased by the amount of the fees accrued for intra-community acquisitions, reversal of the taxable person and deliveries of fixed assets and reduced by the fees borne or satisfied in domestic purchases, intra-community acquisitions and imports of fixed assets.
However, the amount resulting from current operations may be deposited on account, that is, a fixed amount that is known at the beginning of the year and wait for the fourth quarter declaration to settle the amount of the rest of the operations. These payments, in a fixed amount, may be direct debited.
The amount to be deposited or the amount to be returned will be determined in the self-assessment, form 303 by the difference between the final result and the payments on account made in the quarterly self-assessments.
Final settlement (annual)
PHASE 1:
PHASE 2:
PHASE 3:
PHASE 4:
PHASE 5:
PHASE 6:
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RESULT
The final result of the simplified regime is determined:
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Amount due for current operations. Applying the modules established in the Order that develops this regime.
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Fee supported by current operations. The fees paid for internal purchases of goods and services, intra-community acquisitions or imports of goods, other than fixed assets, intended for the development of the activity, may be deducted under the conditions established for the simplified regime.
The compensation paid to farmers for purchases made in accordance with the VAT agriculture, livestock and fishing regime will be deductible.
Likewise, 1% of the VAT accrued in current operations will be deductible, for fees borne by expenses that are difficult to justify.
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Quota derived from the simplified regime. It will be the greatest of:
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The difference between the VAT accrued and the VAT borne by current operations.
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The minimum fee established for each activity for current operations, increased by the amount of fees incurred outside the territory of application of the tax and which have been returned during the year.
The fee derived from the simplified regime will be increased by the fees accrued by:
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Intra-community acquisitions of all types of goods (current and fixed assets).
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Operations in which it turns out to be a taxable subject for investment.
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Deliveries of tangible or intangible fixed assets.
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The quotas borne or paid for internal purchases, intra-community acquisitions and imports of fixed assets may be deducted from the previous result.