ARTICLE 26: TRANSFER OF PROPERTY EXEMPT FROM THE VALUE-ADDED TAX (VAT) PAYMENT

For the purposes of article 8, second paragraph of the Law (LIVA: Art. 8), shall be considered transfer of property made by companies for which they are not obliged to pay the tax, the gifts they make, provided they are deductible under the terms of the Law on Income Tax (Ley del Impuesto sobre la Renta).