ARTICLE 5E: CALCULATION AND DATE OF BIMONTHLY PAYMENT OF THE VALUE-ADDED TAX (VAT)

Taxpayers who exercise the option referred to in article 111 of the Law on Income Tax (Ley del Impuesto sobre la Renta), during the period they remain in the regime provided for in said article, instead of submitting monthly the declaration referred to in article 5-D of this Law (LIVA: Art. 5D), they must calculate the value added tax bimonthly for the periods from January to February; March and April; May and June; July and August; September and October, and November and December of each year and make the payment of the tax no later than the 17th day of the month following the corresponding two-month period, by means of a declaration that they will present through the systems available to the Service Tax Administration (Servicio de Administración Tributaria) on their website, except in the case of imports of goods that will be in accordance with articles 28 and 33 of this Law (LIVA: Art. 28) (LIVA: Art. 33), as appropriate. Bimonthly payments will be definitive.

The bimonthly payment will be the difference between the tax that corresponds to the total of the activities carried out in the two-month period for which the payment is made, except for imports of tangible goods, and the amounts corresponding to the same period for which the accreditation proceeds determined in the terms of this Law. If applicable, the taxpayer will reduce the tax corresponding to the total of its activities, the tax that has been withheld in the two-month period in question.

The taxpayers referred to in this article who, where appropriate, make the withholding referred to in article 1-A of this Law (LIVA: Art. 1A), instead of paying the tax withheld monthly by means of the declaration referred to in the penultimate paragraph of said article, they will find out by the two-month period referred to in the first paragraph of this article, together with the payment declaration provided for in the same or, in the absence, no later than the 17th day of the month following the corresponding two-month period. (RLIVA: Art. 22B)

In the case of taxpayers who initiate activities, in the declaration corresponding to the first two-month period they present, they should only consider the months that they have carried out activities.

Taxpayers referred to in this article must comply with the obligation provided in section III of article 112 of the Law on Income Tax (Ley del Impuesto sobre la Renta), instead of keeping the accounting referred to in section I of article 32 of this Law (LIVA: Art. 32). They may also keep and issue tax receipts in accordance with the provisions of sections II and IV of the aforementioned article 112.

Likewise, the taxpayers referred to in this article will not be obliged to submit the informative declarations provided for in this Law, provided that they present the information of the operations with their suppliers in the immediately preceding two-month period, in accordance with section VIII of the article 112 of the Law on Income Tax (Ley del Impuesto sobre la Renta).