5.7.5 Formal obligations

• This regime is chosen by submitting census declaration form 036 at the start of the activity or in the month of December prior to the start of the calendar year in which it must take effect. The option will be understood to be extendable until it is renounced.

• The waiver must be exercised in the month of December prior to the year in which it is to take effect and will be valid for a minimum of 3 years.

• Those covered by this regime must include in both the register of invoices issued and received the dates of collection or payment respectively and the amount of collection, partial or total, of the operation and the bank account or other means that proves total or partial collection.

• Recipients of transactions must include in the record book of invoices received the dates and amount of payment, partial or total, of the transaction, and the means of payment used.

• The invoice for operations covered by this special regime must be issued at the time of their performance, except when the recipient is a business or professional, in which case, as a deadline, it must be issued before the 16th of the month following the month in which they were performed. Invoices must contain the mention of “special cash basis regime”.

• Transactions must be recorded in the registration books within the established time periods as if the regime had not been applied to them and completed at the time when collections and payments are made.