ARTICLE 16: CALCULATION OF THE RATIO OF THE CREDITABLE VALUE-ADDED TAX (VAT) FOR TAXPAYERS THAT MAKE UP THE FINANCIAL SYSTEM

For the purposes of the provisions established by the Law on accreditation (LIVA: Art. 4) (LIVA: Art. 5) (LIVA: Art. 5A) (LIVA: Art. 5B) (LIVA: Art. 5C) (LIVA: Art. 5D), the taxpayers that make up the financial system, may include in the calculation of the ratio to which these provisions refer, provided they do so simultaneously both the value of the activities for which the tax must be paid, as in the total value of their activities, the part of the interest on which they do not pay the tax under the terms of article 18-A, sections I and II of the Law (LIVA: Art. 18A), even if the adjustment on the principal when the amount of the credit is denominated in investment units.