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VAT practical manual 2022.

Determining the amount to pay or refund

The result of the settlement of the Value Added Tax in the simplified regime is determined at the end of each year. However, the businessman or professional will make a deposit on 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 "fees accrued for current operations" and "fees borne by current operations", relating to said activity, with a minimum amount of fee to be paid, which will be determined for each activity by the Order approving the indices and modules for that year.

  1. Amounts accrued from current operations
  2. Amounts paid from current transactions
  3. Charge derived from the simplified system.
  4. Quarterly charges
  5. Result of the simplified regime
  6. Settlement diagram