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VAT practical manual 2021.

Formal obligations

Entrepreneurs or professionals covered by the simplified VAT regime must comply with the following formal obligations:

  1. Keep a Record Book of received invoices, where you will record the invoices related to the acquisition and import of goods and services for which the tax has been borne or paid. Acquisitions and imports of fixed assets will be recorded separately, as well as the information needed to make any necessary adjustments.

    If you carry out other activities not attached to the simplified regime, any acquisitions corresponding to each different sector must be recorded separately.

  2. They must keep a Record Book of Operations if they carry out any of the activities whose indexes or modules operate on the volume of income.

  3. They must keep the supporting documents for the indexes or modules applied.