Determining the amount to pay or refund
The result of the settlement of Value Added Tax under the simplified regime is determined at the end of each fiscal year. However, the entrepreneur or professional will make a payment into the account on a quarterly basis.
In general, the settlement of the Value Added Tax for the performance of each activity covered by the simplified regime will result from the difference between "quotas accrued for current operations" and "quotas borne by current operations", relating to said activity, with a minimum amount of quota to be paid which will be determined for each activity by the Order approving the indexes and modules for that year.