The VAT is an imposition of an indirect nature that falls on consumption. It taxes: the delivery of goods and rendering of services carried out by businesspersons and professionals, the intra-community acquisitions, and the imports of goods.
In the application of this tax by businesspersons or professionals, two aspects can be highlighted:
If the result is positive, it must be deposited in the Treasury.
If it is negative and settled quarterly, the result is compensated in the next settlement-returns; in this case, if at the end of the financial year, in the last return submitted, the result is negative, one chan choose to ask for a refund or else to compensate the negative balance in the settlements of the next financial year.
If it is negative and settled monthly (addition to the register of monthly refunds having been requested), refunds will be carried out month by month.