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Practical Handbook VAT 2021


This special regime is optional and allows you to delay the accrual and subsequent declaration and payment of VAT until the time of collection from your customers.

As a counterpart to the delay in the payment of the output VAT , the deduction of input VAT on your purchases is also delayed until payment is made to your suppliers.

However, the date of 31 December of the year immediately following the year in which the transaction takes place is set as the deadline both for the accrual of the tax and for the right to the deduction to arise.