ARTICLE 18L: WHO MAY APPLY THE OPTION REFERRED TO IN ARTICLE 18-M

For the purposes of the provisions of Article 18-K of this Law, individual taxpayers who have obtained income up to an amount of $300,000.00 in the immediately preceding year for the activities carried out with the intermediation of people referred to in article 18-J of the same, may exercise the option referred to in article 18-M of this ordinance, provided that they do not receive income from other concepts, except for the income referred to in Chapters I and VI of Title IV of the Law on Income Tax (Ley del Impuesto sobre la Renta), in which case they may exercise the aforementioned option.

Taxpayers who start activities may apply the provisions of the preceding paragraph when they have an estimated that their income for the year will not exceed the amount established in said paragraph. When in the initial exercise they carry out operations for a period of less than twelve months, to determine the amount quoted, they will divide the income obtained by the number of days that comprise the period and the result will be multiplied by 365 days. If the amount obtained exceeds the referred amount, in the following year the benefit of the previous paragraph cannot be taken.