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Regulations on issuing and registering invoices are modified

Regulations on issuing and registering invoices are modified

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On July 30, 2021, Board Policy Resolution No. 102100000010 was published, whereby amendments were made to Board Policy Resolution (RND) No. 10-0021-16, regarding the issuance of invoices and others, as follows:

1. Continuous services and invoice issurance

Number 1 of Article 42 of the Registro Nacional de Detenciones – RND (National Arrest Registry) No. 10-0021-16 on Continuous Services is amended, providing the invoice shall be issued at the time of its total or partial payment or within five (5) business days following the conclusion of the monthly period (calendar month of rendering) in the services rendering of continuous performance, subject to a pre-established fixed price. In either of the two cases, the fiscal period shall correspond to the month of issuance of the invoice.

2. Continuous services subject to measurement or settlement

In the continuous services provision subject to measurement or settlement for the determination of the amount to be billed, the invoice shall be issued considering any of the following aspects, whichever occurs first:

  1. To the partial or total receipt of payment for the service rendering or
  2. To the monthly measurement or settlement of the price to be charged for the service provided. In this case, the month corresponding to the aforementioned measurement or settlement shall be taken as the fiscal period.  

3. What are continuous services?

Continuous services shall be considered as the services rendering performed in an uninterrupted manner subject to a monthly due date for payment with pre-established prices or subject to measurement or settlement for the determination of the amount to be charged.

Se entenderá por servicios continuos a la prestación de servicios realizados de manera ininterrumpida, sujetos a un vencimiento mensual para su pago, con precios preestablecidos o sujetos a medición o liquidación para la determinación del importe a cobrar.

4. Regulatory incorporation – Issuing of adjustment notes

The Adjustment Note will allow the VAT Taxpayer to adjust to the VAT Tax Debit and/or Credit in transactions for electricity, telecommunications, drinking water, and hydrocarbon services, as follows:

  1. When the adjustment determines that the amount initially invoiced was higher than the corresponding one on the difference, the seller shall issue the Adjustment Note generating a VAT Tax Credit and record it in the Affidavit for the tax period it is adjusted for. Likewise, the buyer will register the VAT Tax Debit in the VAT Affidavit corresponding to the period indicated above.
  2. When the adjustment determines that the amount initially invoiced was less than the corresponding one on the difference, the seller shall issue the Adjustment Note generating a VAT Tax Debit and record it in the Affidavit for the tax period it is adjusted for. Likewise, the buyer will register the VAT Tax Credit in the VAT Affidavit corresponding to the period indicated above.

5. Due date for issuing of adjustment notes

The Adjustment Notes may be issued up to the last day of the fiscal period prior to that in which twelve (12) months are completed and computed from the invoice issuing date to be adjusted for the return and the refund of the Tax Credit and/or Tax Debit balance. The Adjustment Notes issued outside the term indicated above will not be admitted by the Tax Administration.

6. Services rendered in july 2021

For services rendered in July 2021, the corresponding invoices will be issued in accordance with the regulations in force prior to the amendments made by Supreme Decree No. 4541. Thus, they will be declared in the fiscal period of July 2021 to be filed and paid in August of the current fiscal year according to the taxpayer’s TIN termination.

7. Effective date

The rule is effective as of July 31, 2021.

Source: Impuestos Gob. 02/08/21

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