ARTICLE 24: RETURN OF ALIENATED GOODS, GRANTING OF DISCOUNTS OR BONUSES OR REFUND OF ADVANCE PAYMENTS OR DEPOSITS RECEIVED

For the purposes of article 7, first paragraph of the Law (LIVA: Art. 7), the taxpayers who receive the return of alienated goods, grant discounts or bonuses, or refund of advance payments or deposits received as a result of the activities taxed by the Law, may only deduct the amount of said concepts up to the value of the activities for which the tax must be paid. In the case of the remaining, they will be deducted in the following monthly payment declarations until they are used up. The deduction referred to in this paragraph may only be made until the corresponding consideration, advance payment or deposit has been effectively refunded to the acquirer and is recorded in the terms established in the second paragraph of said Article 7 (LIVA: Art. 7), or, when the obligation to do so is extinguished.

In the case of discounts and bonuses, the deduction will proceed when they are actually applied.