1. SETTLEMENT
Once all the revenue and economic magnitudes and the characteristic settlement parameters of the tax have been defined, the connection between all the elements is established through the settlement described in Annex I in the TYPE I TABLES
Through settlement, the period's revenue is obtained as a product of a base called "Theoretical Base" and a weighted average rate. The base, in turn, is made up of the various components (sales, current purchases, investment, intra-community acquisitions and foreign sales) and each of them corresponds to a specific tax rate, configuring the various components of the Collection, which corresponds to the concept of "Collection of the period".
Each component of the base has been described as an economic variable in TABLE TYPE III, with the following nuances:
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The liquidation does not include the amounts corresponding to exempt activities without the right to deduction, that is:
- Exempt sales without the right to deduction (VESD)
- Non-deductible current purchases (CCTSD)
- Non-deductible investment (CITSD)
-
The settlement includes activities under special regimes directly based on their added value (travel agencies, used goods, works of art, antiques and collectibles, the Simplified Regime and Equivalence Surcharge) and does not include the added value of the special regime for agriculture, livestock and fishing. Furthermore, the reverse charge mechanism extends to some domestic transactions. In these cases, the taxpayer declares and pays the corresponding fees for their purchases, and therefore these are third-party transactions. They will be included in this section as quotas from sales made by other resident subjects.
Each component of the collection has been described as a collection variable in TABLE TYPE II (See Annex I), expressly specifying all the elements of each concept, so that the correspondence with the specific items of the declarations is established.
The summary of the settlement responds to the following scheme:
| VAT SETTLEMENT | BASE | TMP | SHARE |
|---|---|---|---|
| CURRENT OPERATIONS | |||
| Sales with the right to deduction (1) | VTDD | TVDD | CUOTAREP |
| Deductible current purchases (2) | CCD | TCC | QUOTASOP |
| Operations in special regimes (3) | VARESP(*) | TVARES | QUOTAS |
| PHASE 1: RESULT DERIVED FROM INTERNAL ADDED VALUE
(4)=(1)-(2)+(3)
|
(1)-(2)+(3) | RESVA | |
| NET INVESTMENT OPERATIONS (7)=(5)-(6) | (5)-(6) | RESIN | |
| Deductible investment purchase base (5) | BCID | TCI | RCID |
| Divestment (6) | DESINV | TG | RDESINV |
| PHASE 2: DERIVED RESULT OF INTERIOR ACTIVITY
(8)=(4)-(7)
|
(4)–(7) | RESACTIN | |
| OTHER OPERATIONS (12)=(9)+(10)+(11) | BROO2 | ROO2 | |
| Foreign purchases (9) | CEX | RCEX | |
| Adjustments, modifications and corrections (10) | BMODIF+BRECTIF | MODIFTOT | |
| Regularization of fees art.80.five.5 LIVA(11) | PC658 | ||
| PHASE 3: RESULT DERIVED FROM PRODUCTION
(13)=(8)-(12)
|
(8)-(11) | RESPROD2 | |
| Foreign sales (14) | VED | TVRG | RVEXT |
| PHASE 4: COLLECTION FOR THE PERIOD (15)= (13)-(14) | BITD | TMP | RESPER2 |
(*) VARESP sum of the added value of the simplified regimes and the special regime of the equivalence surcharge, travel agencies and used goods and cases of reversal of the taxable person in domestic operations.