Employees

Decree 692/98

Approve the regulation of the Law on Attached Value Tax, which was ordained in 1997 and its amendment. Default of Decree No. 2407 and its amendments.

Bs As, 11/6/98

VISTO Decree No. 2.407 of 23 December 1986 and its amendments, which govern the Law on Attached Value Tax, which is ordained in l997 and its amendment, and

CONSIDERING:

Attentive to having ordered the rules of the tax law, by Decree No. 280 of 26 March 1997, it is up to the corresponding ordering of its statutory provisions.

That the multiplicity and on certain occasions complexity of the various transactions reached by the tax has in some cases generated a number of doubts as to the scope and correct interpretation of its provisions.

That such a situation may result in discrepancies of criteria that induce those responsible to misdetermine the grave.

Attentive to the above circumstances, it is appropriate to complement or, where appropriate, to adjust the wording of the regulations in order to achieve greater precision in the application of the tribute.

At the same time, the large number of modifications that were incorporated into the aforementioned regulation, as well as their adequacy to the above-mentioned situations, make it necessary in this instance to replace its entire text.

To this end it is appropriate to adopt a new regulatory text, replacing the one established by Decree No. 2.407/86 and its amendments, which are repealed by this act.

That the General Directorate of Humanitarian Affairs of the MINISTERY OF ECONOMY AND ARTWS AND SERVICES PUBLICOS has taken the intervention that belongs to him.

That the present is given in the use of the powers conferred on the NATIONAL EXECUTIVE POWER by article 99, paragraph 2 of the NATIONAL CONSTITUTION.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

ARTICLE 1. Approve the regulation of the Law on Attached Value Tax, which is ordained in l997 and its amendment, which is annexed to this decree.

ARTICLE 2. Default of Decree No. 2.407 of 23 December 1986 and its amendments.

ARTICLE 3o.- The provisions of this decree shall enter into force on the day of its publication in the Official Gazette and shall be effective from the entry into force of the rules that govern, with the exceptions provided for in the Decrees No. 2.633 of 29 December 1992, No. 846 of 26 April 1993 and No. 644 of 11 July 1997 except in the case of sales, works, locations or benefits under Articles 5; 6; 8; l5; 16; 19; 22; 29; 36; 39; 40; 51; 52; 52; 62 and 88 of the corrective text that is approved by the present time shall be established

ARTICLE 4o.- Contact, publish, give to the National Directorate of the Official Register and archívese.-MENEM- Jorge A. Rodríguez- Roque B. Fernández- Raúl E. Granillo Ocampo.

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REGLAMENT

I - OBJECT, SUJECT AND NACIZATION OF THE IMPONIBLE RIGHT

OBJECT

Things of furniture of foreign origin

ARTICLE 1. For the purposes set out in article 1 (a) of the Act, the movable property of foreign origin shall be considered only to be located or placed in the territory of the country where they have been imported in a definitive manner.

Final import

ARTICLE 2. For the purposes of the law and this regulation shall be understood by definitive import of the import for consumption referred to in the Customs Code.

Goods susceptible to own individuality

ARTICLE 3o.- For the purposes of article 2 (a) of the law, the incorporation of movable things, of their own production, in the cases of locations, services or the realization of works, exempt or not reached by the grave shall be considered sale.

Works carried out on own property

ARTICLE 4o.- For the purposes of article 3 (b), of the law, it shall be understood by works to those improvements (constructions, extensions, facilities) which, according to the building codes or similar provisions, are subject to denunciation, authorization or approval by competent authority.

When the location of the property does not exist such an obligation, the quality of improvement will be determined by similarity with the treatment indicated above in force in the same municipality or province or, failing, in the nearest municipality or province.

ARTICLE 5o.- The sale of the works referred to in Article 3 (b) of the Law is not reached by the tax, carried out by the subjects covered in Article 4(d), when by a continuous or discontinuous period of THREE (3) years - complied with the date on which the translational deed of domain is extended, or the use of the same act is retained, if the previous use,

The provisions of the preceding paragraph shall also apply, when the sale is made by any of the members of a consortium assimilated to condominium, including the cases in which for the same period as previously provided, the property would have affected the house.

Support material

In the situations provided for in this article, in the fiscal period in which the sale takes place, tax credits must be refunded in a timely manner, attributable to the transferred asset.

ARTICLE 6o.- The exclusion provided for in the second paragraph (c) of article 3 of the Act shall be applicable when the provision of the service exempted or unsuccessful by the levy and the good through which it is carried out, meets the following conditions concurrently:

(a) That both obligations - the provision and surrender of the good - be jointly improved;

(b) that there exists between them a binding relationship of natural, functional, technical or legal order, from which necessarily the annexation of one to another; and

c) that the elaborate "movable thing" constitutes simply the material support of the main obligation.

Public lighting service

ARTICLE 7o.- The exception set out in article 3, paragraph 5 (e), of the law in respect of the service of public lighting does not include the provision of energy to the providers of such service.

Benefits. Operations covered

ARTICLE 8o. The benefits referred to in paragraph 21 (e) of article 3 of the Act include all obligations to give and/or to do, by which a subject is obliged to perform through the exercise of his or her activity and through a particular retribution, a job or service that allows him to receive a benefit.

They are not covered by the provisions of the preceding paragraph, transfers or assignments of the use or enjoyment of rights, except where they involve a financial service or a concession of industrial or commercial exploitation, circumstances that will also determine the application of the tax on benefits originating when the latter constitute obligations not to do so.

Instruments and/or derivative contracts

ARTICLE 9o.- Benefits arising from derivative instruments and/or contracts, including the conclusion of the instrument, subsequent negotiation and compensation or liquidation as a result of its resolution or pursuant to its provisions, without transfer of the underlying assets or services, do not constitute benefits under article 3 of the Act.

In contrast, if, as a result of the resolution of the instrument or in the light of the application of its stipulations, there are impossible facts covered by article 1 of the Act, they shall be subject to the treatments provided by it and by these regulations applicable to them.

Notwithstanding what was stated in the first paragraph, when a set of derivative instruments linked to one another, or a component element or several of them of the same instrument, denote that according to the principle of economic reality, the parties have made a transaction or tax allowance, the rules provided for in the law and in this regulation shall apply for such transactions.

Also, when a set of transactions with derivative instruments and/or contracts is equivalent to another transaction or financial operation with a treatment established in the tax law, the rules of transactions or operations of which it is equivalent shall apply to such a set.

Interests originated in exempt or unencumbered operations

ARTICLE 10. Interests originating in deferred or out-of-term financing or payment, of the price for sales, works, locations or benefits, are reached by the tax even if the operations that gave rise to their determination are exempt or not taxed.

Security box locking

ARTICLE 11. For the purposes of article 3, paragraph 21 (e), of the law, it is considered that the service provided by the so-called "safety box locking" is a benefit included in the provisions of the aforementioned legal rule.

Actions, public titles and other securities

ARTICLE 12.- The exclusion set out in paragraph 21 (i), of article 3 (e), of the Act includes actions, public titles and other securities, with the exception that operations with them constitute or do not constitute expendable property.

SUJECT

Heirs and legacies

Article 13.- In the case of the heirs and legaries referred to in article 4 (a) of the law, and as long as the state of hereditary indivision, the administrator of succession or the bazaar is maintained, they shall be responsible for the income of the tax which may correspond, with the provisions of article 16 of Law No. 11,683, ordained in 1978 and its amendments.

Responsible for services and locations

ARTICLE 14. They are passive subjects of the tax in the case of the services or locations provided for in article 4 (e) and (f) of the Act, both those who make them directly and those who perform them as intermediaries, in the latter case provided they do so on their own behalf.

Non-Social Groups

ARTICLE 15. The exclusion provided for in the second paragraph "in fine" of Article 4 of the Law shall only be appropriate when the professional work or the other services provided for in the aforementioned rule shall be performed and invoiced on a personal basis by each of the perpetrators involved, as long as they are natural persons.

However, when such jobs or benefits are not performed on an occasional basis and in a personal capacity, the collective entity that groups the professionals or lenders that perform them, even in those cases in which the contracting must be established judicially and one or more physical persons, members of the group, assume the representation of the same, circumstances of which the corresponding taxation shall be established in the respective context

Endose or assignment of documents

ARTICLE 16. In cases of purchase and discount, through endorsement or assignment of documents, such as levies, letters, garments, commercial papers, mutual contracts, invoices, etc., which include financing interests, are passive subjects of the benefit tax for the latter, who are holders of the receivable at the time of any of the circumstances provided for in item 7, subparagraph (b), of article 5, of the Act.

The above provisions shall not apply when the operation acts as a assignor or assignee a financial entity subject to the Act No. 21.526 and its modifications and the assignor or, where appropriate, administrator or perceptive agent of the designated portfolio to that effect, is a subject based in the country that formally assumes the quality of the charger of the negotiated documents, or when in the operation the assignee is a foreign subject.

The financial entities included in the preceding paragraph shall, on a monthly basis, provide to the FEDERAL ADMINISTRATION OF PUBLIC INCOME, an autonomous entity within the scope of the MINISTERY OF ECONOMY AND ARTWS and PUBLIC SERVICES, in accordance with the rules established by it, the payroll of the operations carried out under the specified conditions, informing the name or claim of the designated agent

STRENGTHENING OF IMPONIBLE RIGHT

Primary product exchange

ARTICLE 17. For the purposes of the third paragraph, of article 5 (a), of the Act, it shall be admitted that the contracting by the primary producer shall not be carried out by the surrender of the assets committed, only in cases where the impossibility of its performance is demonstrated.

Also, in cases where the exchange operation does not cover the entire transaction, the rule shall be applicable only in respect of the proportion attributable to the first.

Power supply, water or gas, regulated by meter

ARTICLE 18. The first paragraph of Article 5 (a) of the Law, referring to the improvement of the taxable fact in the cases of the provision of electricity, water or gas, regulated by meter, shall be applicable only when the deadlines set for payment correspond to uniform expiry collectively established for the users of the services, the individual transactions that do not meet that specific characteristic, those that will be included in the general provisions of the regulations, the provisions of which shall be included in the general provision.

Rehearsal or test contracts

ARTICLE 19. In the case of test or test contracts, the circumstances set out in subparagraph (a) and paragraph 1 (b) of article 5 of the Act shall be refined with the provisional surrender of the property.

If the finalization of the probationary period resulted in the total or partial return of the property or a reduction in the originally agreed price, the provisions of the second paragraph of article 11 and article 12 (b) of the Act shall apply.

Endose or assignment of documents

ARTICLE 20. In cases of purchase and discount transactions, through endorsement or assignment of documents, such as levies, letters, garments, commercial papers, mutual contracts, invoices, etc., the finalization of the benefit referred to in article 5 (b), of the law, shall occur when the same is specified, at which time the taxable fact they generate will be perfected.

Continuous services

ARTICLE 21. When the mode of the benefit does not expressly set the time of its completion - as in the case of the so-called "continuous services" - it is understood that the same has cuts resulting from the existence of a base period of monthly billing, considering itself, for the purposes provided for in Article 5 (b) of the law, that the imponible fact is perfected for the completion of each calendar month.

Interests that are agreed upon and discriminated against in the sale price

ARTICLE 22.- In the interests referred to in point (2), of the fifth paragraph of article 10 of the law, including those covered by its second paragraph, when it is agreed and made discriminated against in the price of sale, work, location or benefit, the imponible fact that they originate shall be perfected in accordance with paragraph 7 (b) of the same rule.

Identical treatment shall be applicable to the imponible facts originating in the interests referred to in the seventh paragraph of the said article 10 of the law, corresponding to the payment deferred by the sale of works made directly or through third parties on their own property and in the financial surcharges of the insurance or reassurance policies referred to in the ninth paragraph of the same legal norm, which do not constitute the net encumbered price of the referred transactions.

Imports debited in the account of the borrower

ARTICLE 23. For the purposes of article 5 (b), of the law, the amounts debiting in the account of the borrower shall be deemed to be perceived, except where the borrower does not mean a real transfer of resources to the lender, but they constitute a mere formal procedure required by rules of a legal or judicial nature, or established by official regulatory bodies, in the exercise of powers inherent in their competence.

Rearcitary and/or punitive interests

ARTICLE 24. When, as a result of non-compliance with the payment of the encumbered operation, re-arcite and/or punitive interests are generated, the refinement of the imponible fact attributable to them will occur at the time of their perception. For this purpose, interest shall be deemed to be perceived when a real transfer of resources is produced in favour of the person motivated by a payment in cash or in kind, or by a debit in the account of the borrower as set out in the previous article.

In the case of refinancing, where the re-arbiting and/or punitive interests had been capitalized for the calculation of the new amount owed, the taxable fact for such interests would be perfected at the time of the expiration of the time limit set for the new returns or the previous one of their perception, total or partial. For the purpose of calculating the tax, the capitalized interests will be considered proportionately distributed to the new agreed conditions.

Signs or advances that freeze price

ARTICLE 25. When the signs or advances that freeze the price referred to in the last paragraph of Article 5 of the Law correspond to works done directly or through third parties on their own property, the taxable fact will be perfected on the entirety of such payments.

However, when the person responsible considers that the signs or advances received are equivalent to the proportion attributable to the work subject to the levy, he may request authorization not to liquidate and enter the tax by the remnant of the price that is not reached by the levy, in accordance with the formalities and requirements established by the FEDERAL ADMINISTRATION OF PUBLICS, autarchical entity within the scope of the scope of the

Consortiums

ARTICLE 26. For the purposes of article 5 (e) of the law and article 4 of these regulations, in the case of property owners consortiums, organized as civil or commercial companies, performing the works provided for in article 3 (b), of the law, the time of transfer of the property, to the act of awarding the respective units shall be considered.

II - EXENSIONS

Bank bills

ARTICLE 27. The waiver provided for in article 7 (b) of the Act, referring to banknotes, includes tickets to the order of all classes issued by authorized States or emission banks, to be used as trustworthy signs both in the emission countries and in other countries.

Gold piled or in bars

ARTICLE 28. The exemption provided for in article 7 (d), of the law, shall also be appropriate when the commercialization of the goods covered by this rule is carried out by houses or exchange agencies, authorized to operate by the BANCO CENTRAL DE LA REPUBLIC ARGENTINA.

Sales to end consumers. Fluid milk or powder

Sale of medicinal specialties. Definitions

ARTICLE 29. For the purposes of the exemption provided for in article 7 (f), of the law, it shall be understood that the buyers are of the quality of final consumers, when by the magnitude of the transaction it may be presumed that the transaction is carried out with such subjects and while the usual activity of the disposer consists in the conduct of operations with the subsequent exemptions, considering for such purposes that the latter are those individuals who acquire the goods exclusively obtained for the purpose.

In accordance with the provisions of the above-mentioned legal standard, it is considered "natural ordinary water" to all natural ordinary waters, subject or not to potabilization processes, not being included in the exemption of sea water, mineral waters, gaseous waters or those that have undergone processes that alter their basic properties, as well as the provision of water through networks, regulated or not by meters or other parameters, within the so-called public services.

The natural ordinary water referred to in the preceding paragraph is the one that is sold broken or packaged, either in premises or businesses where it is intended to acquire it, as well as through other marketing modalities that have as buyers subjects that review the quality of final consumers.

Likewise, fluid or powdered milk, whole or uncreated, without additives and the common bread, included in the aforementioned exempt standard, only includes the products defined in articles 558; 559; 562; 567; 568 and 569 and articles 726 and 727, respectively, of the National Food Code.

Similarly, it is considered to be included in the waiver, the resale of medicinal specialties for human use, carried out by establishments duly authorized by the competent authority, that perform functions similar to drugstores or pharmacies, provided that, also in these cases, the tax has been taxed at the stage of import or manufacture.

Insurance, reinsurance and retrogression operations

ARTICLE 30. The insurance, reinsurance and retrocession operations, referred to in item (2) (h) of article 7 of the Act, only cover contracts that are signed by the insurers and, as long as they are governed by the regulations of the NATIONAL SUPERINTENDANCE.

Health, medical and paramedical benefits

ARTICLE 31. The exemption from health, medical and paramedical services, as provided for in article 7 (h), item 7), of the law, shall be appropriate when they are carried out directly by the provider contracted or indirectly by third parties involved, whether the latter are to the assistance entity, or the user of the service when it comes to reintegration systems, having in all cases a record issued by the original provider.

In addition, for the purposes provided for in the last paragraph of the above-mentioned legal standard, they shall be deemed to be included in the exemption to similar services including emergency services, which provide or contract cooperatives, mutual entities and prepaid medical systems, directly or through third parties, provided that they correspond to benefits to be provided to their associates or adherents, while the above-mentioned entities are registered and/or authorized by the respective municipal authorities.

With regard to the direct payment that, in the form of co-insurance or in the event of a lack of services, the beneficiaries of social works, cooperatives, mutuals or prepaid medical systems should be made, the exemption will be appropriate as such in the respective proofs to be issued by the service providers.

To this end, it shall be understood that it is of the quality of co-insurance, the supplementary payment to be made by the beneficiary when the benefit is covered by the system, including the so-called refunds, only in part, regardless of the percentage of the coverage, as well as the corresponding additional amount to be paid for services or non-covered goods, but which form an inescapable part of the main benefit.

With regard to the payment for lack of services referred to in the exempt rule, only those situations in which the beneficiary pays a benefit which, being covered by the system, for circumstantial reasons is not provided by the same, in which case it must be counted on the corresponding record that such contingency is appropriate.

Securities boxes. Entities governed by Law No. 21.526 acting as operators of the capital market

ARTICLE 32.- The exemption set forth in paragraph 9 (h) of Article 7 of the Law is comprehensible of the benefits performed by the so-called "value boxes" and extends to the entities governed by Law No. 21.526, regarding the services they perform in their capacity as operators of the capital market in functions similar to those specified in the aforementioned rule.

Film production and distribution

ARTICLE 33.- The exemption provided for in article 7 (h), item 11), of the law does not include the production and distribution of advertising films and recordings in tape or other support made for the same purpose, intended to be displayed in cinematographic rooms or television stations.

Transport service

ARTICLE 34.- The exemption provided in article 7 (h), item 13), of the law includes all the services related to the transport that complement and have for the exclusive purpose to serve the same, such as: loading and unloading, stibaje -with or without containers-, slinging, provisional deposit of import and export, legal services of crane, trailer, practice, pilotage and other supplementary services provided in the primary area, However, the treatment established by article 43 of the Act, which provides for the above-mentioned rule, shall be applied in such cases, when the franchise contained therein has been considered for the determination of the price of the said benefits.

The provisions of the preceding paragraph shall be applicable to the extent that such related services are provided to those carrying out the exempt transport involved, or are invoiced by the latter for cost recovery.

Similarly, the waiver shall be appropriate regardless of the characteristics of transport for the purpose of meeting its objective (security, safeguarding, maintenance or similar), as long as they are appropriate to the type of goods transported.

Furthermore, the transport carried out between the mainland national territory and the special customs area established by Law No. 19,640 shall be deemed to be covered by the waiver established by the legal norm referred to in this article in its first paragraph.

Placements and financial benefits

Article 35.- The waiver set out in paragraph 1 of item 16 of paragraph (h) of article 7 of the law, in respect of cash deposits in national or foreign currency, only includes those that constitute a placement or financial benefit, by which the depositor receives the corresponding retribution, making such treatment extended to the other transactions related to them, but not to those that originate in such deposits that are not in such cases.

With regard to the various forms of deposits referred to in the above-mentioned legal rule, it is considered that the same includes the collection of funds originating in mediation operations in financial transactions between third parties, carried out by entities governed by Act No. 21.526.

Likewise, the waiver agreed to the loans made between the institutions mentioned in the preceding paragraph is related to the so-called "call money" operations, the placements they carry out in the BANCO CENTRAL OF THE ARGENTINA REPUBLIC and the other operations defined as "we loan among financial entities" by the Central Bank.

Housing loan interests

ARTICLE 36. For the purposes of section 7 (h) of paragraph 8, of item 16, of the Act, the waiver shall be appropriate even if it concerns interest relating to the financing of the price agreed upon by the purchase, construction or improvement of the house or originate in loans intended to replace, renew or refinance those who had the aforementioned impact and provided that they are credited for the cancellation of the latter.

For the purposes set forth in the above-mentioned legal norm and in the present rule, it shall be understood by "improvement" of works that meet the requirements set out in article 4 of these rules.

Likewise, in all cases the documentation supporting the operation must contain an express manifestation of the borrower in which it is stated that the loan will be affected to a housing that constitutes or will constitute its own house, as well as, when it comes to improvements, the necessary evidentiary elements that prove their status as such, according to the provisions of the previous paragraph, debending in both cases to conform to the form and conditions established by the ADMINATION

Pass operations

Article 37.- The waiver set forth in paragraph 2 (h), of article 7 (h), of the law, referring to the transactions of transfer of securities, shares, currency or foreign currency, is understandable of the captions, which for the same purpose are carried out with such goods.

Location of properties

Article 38.- The exemption provided for in article 7 (h), item 22), of the law shall not be appropriate in the case of temporary premises in buildings where services are provided assimilable to those covered by article 3 (e), item 2 of the same rule.

Granting

ARTICLE 39.- The exemption provided for in article 7 (h), item 23), of the law covers only public concessions, granted by the National State, Provinces, Municipalities and the Autonomous City of Buenos Aires, as well as by the institutions belonging to them, including the entities and agencies referred to in article 1 of Act No. 22.016.

Geriatric establishments

ARTICLE 40. The exemption provided for in article 7 (h), item 25), of the law is in respect of the amounts that for the payment of the services provided by the geriatric establishments take into account the social works covered by the aforementioned rule, whether they do so directly or through the so-called repayment or subsidy regimes, as long as there is the respective supporting documentation, which is extended by those entities, which is valid.

Export

ARTICLE 41. For the purposes of article 8 (d) of the Act, the departure of the country on a definitive basis from goods transferred in a onerous capacity, as well as the simple remission of branch or branch to branch or branch or parent house, and vice versa.

The departure of the country is considered to be configured with the shipment, provided that the goods actually leave the country on that shipment.

In addition, in the cases provided for in article 3 (e) of the Act, it shall be understood that they have the quality of exports, those benefits in the country whose actual use or exploitation is carried out abroad.

Suspensive destination for temporary export. Reimport

ARTICLE 42. Failure to impose taxes that Article 356 of the Customs Code provides for reimport, in compliance with the obligation assumed in the temporary export regime, shall only be fully verified in respect of the taxation of the Added Value Tax Act, when:

(a) Goods return to the same state in which they were exported, even if, during their stay abroad, they had been used, damaged, broken, damaged or damaged, or had been treated as essential for their maintenance or maintenance, or

(b) The temporary departure of the country was solely intended to make reparations or other benefits free of charge abroad, with the guarantee granted on the occasion of the acquisition of such property abroad and covered by the respective price of such goods.

In other cases, of the total tax that results from the application of the Attached Value Tax Act and of this decree, only the portion of the same tax attributable to the value of the proceeds under the temporary regime shall be exempted, it being understood that such value is the corresponding to such property in the state in which they were released.

Exemptions for a particular destination

ARTICLE 43. In all cases where total or partial exemptions are agreed from the Value Added Tax Act on the basis of a particular destination, the sellers, locators or, in their case, the General Directorate of ADUANAS, dependent on the FEDERAL ADMINISTRATION OF PUBLIC INCOME, an auto-service entity within the scope of the MINISTERY OF ECONOMIC PUBLICS, they shall place on record in the invoice or, where appropriate, in the dispatch to square or equivalent documents, that the operation enjoys tax franchise, indicating the relevant norm and the liquota of the tax or the part of the same not applicable under it.

The sellers or locators must retain in their possession a duplicate made up of the acquirer or owner referring to the terms of the precited record, or an acknowledgement signed by the latter that the operations that take place after the same shall enjoy the tax franchise, indicating the relevant norm and the liquota of the tax or the part of the same not applicable. This recognition shall be valid until its revocation is notified or changes are made in relation to the franchise, which will require further recognition.

III - LIQUIDATION

BASE IMPONIBLE

Concepts that do not integrate the net encumbered price

ARTICLE 44. They do not integrate the net encumbered price referred to in article 10 of the law, the taxes which, having as an imponible fact the same taxed operation, are recorded in the invoice separately and to the extent that their amounts coincide with the revenues that in this regard are made to the respective fiscos.

In such cases, such taxes shall not include the net price of subsequent encumbered transactions in which they may affect, provided that they are recorded in separate invoices. In addition, they shall not integrate the net price of the encumbered operations, to the extent that they incite and are consigned separately, the levies of the Internal Revenue Act that relapse on acquisitions exempt from the tax of the Added Value Tax Act.

In the case of the levies of the Internal Revenue Act, it shall be understood for the purposes of the first paragraph of this article, which have as an imponible fact the same encumbered operation, when the expendium referred to in that law is verified in respect of the same good whose operation originates the levy of the Law on Attached Value Tax.

In the operations referred to in article 39 of the Act, the discrimination referred to in the preceding paragraphs may be omitted.

Works on properties

ARTICLE 45. In the cases provided for in the sixth paragraph of article 10 of the Act, when the signs or advances referred to in the last paragraph of article 5 of that rule have been received, they shall be fully affected by the portion of the price attributable to the work subject to the levy.

Net price. Definition. Alcances

ARTICLE 46. The definition of net price arising from the application of the provisions of the Law on Attached Value Tax and these regulations shall have effect only for the purpose of determining the tax created by it.

Transfer of property not reached by tax including the value of encumbered property

ARTICLE 47. In the case provided for in the eighth paragraph of article 10 of the Act, the assets whose disposal is encumbered are those which, with the exception of their accession to the property, are for the person responsible the character of exchange or property of use.

Endose or assignment of documents

ARTICLE 48. For the purposes set out in article 10 of the law, in the cases of purchase and discount transactions, through the endorsement or assignment of payés, letters, garments, commercial papers, mutual contracts, invoices, etc., the taxable base will be the result of the difference between the final value of the credit and the amount paid by the acquirer.

To that end, if there were no discriminated interests, the final value of the receivable would be set out in the negotiated instrument.

Where there are discriminated interests, the same shall be added to the above-mentioned value and in cases where they are not determined, their calculation shall be done, on a definitive basis, on the basis of the relevant variables of the time at which the endorsement or assignment occurs.

The procedure set forth in the preceding paragraph shall not be applicable when the signatory of the document is the endosant or assignor itself, even if the interests are documented, considering in this circumstance that the imponible fact of the document is perfected according to the provisions of paragraph 7 (b) of article 5 of the Act.

Foreign currency operations

ARTICLE 49. Foreign currency operations that do not have properly authorized type of exchange of their own will be converted to the type of trader of the ARGENTIN NATION BANK, at the end of the day prior to the one in which the taxable fact is perfected

DEBITO FISCAL

Returns. Rescissions. Discounts

ARTICLE 50. The provisions of the second paragraph of article 11 of the Act shall apply in cases of returns, terminations, discounts, bonuses or removals made in respect of transactions that would have resulted in the calculation of the tax credit provided for in articles 12 and below of the Act and in the proportion in which the latter has been executed in due course.

CREDITO FISCAL

Restrictions on your computer. Cases in which the limitation does not operate

ARTICLE 51. For the purposes of paragraph 1 (a) of the third paragraph, of article 12 of the Act, vehicles defined as such by article 5 (a) of Act No. 24.449 shall be deemed "automotive". The above definition does not include those vehicles designed and destined for the transport of the sick -ambulances-.

Moreover, with regard to the exception set out in the same rule, it should be understood that the term "similar" is addressed to those subjects who are engaged in the marketing of services for third parties, by means of a remuneration, in the conditions and prices set by the companies for which they operate, the risk of the operation being carried out by them.

ARTICLE 52. The restriction on the computation of the tax credit set out in paragraph 3 (a) of article 12 of the Act shall not be applicable when the owners or borrowers are in turn locators or lenders of the same services indicated therein, or when the contracting of such services is intended to carry out conferences, congresses, conventions or similar events directly related to the specific activity of the contracting party.

Nor shall such restriction be applicable to the provisions of item 4. of the aforementioned legal norm, when the indumentary and accessories included in it, have for the acquirer or importer the character of goods of change, or for their characteristics they are of exclusive use in the workplaces (guardapolvos, shirts with logos, gloves, masks, boots, etc.), excluded, in the latter case, those elements that serve, are necessary or are destined, indistinct, in the field and indistinct of the work.

Apportionment

ARTICLE 53. The apportionment referred to in article 13 of the Act shall be made on the basis of the net amount of the respective operations of the commercial period or calendar year concerned with those responsible who carry annotations and carry out trade balances or do not meet those requirements, respectively.

Special activities. Amounts of operations not matching the imponible base. Calculation of the apportionment

ARTICLE 54. Where, on the basis of the characteristics of the activity, the amount of the operations, which are taxed, exempted and not encumbered, should be considered in accordance with the provisions of the preceding rule, is not consistent with the amount resulting from applying to each of the same the provisions of the tax law and this regulation for the determination of the taxable basis, the latter is to be considered for the purposes of the assessment set out in rule 13 of the statute.

Inapplicability of assessment

ARTICLE 55. Article 13 of the Act shall not apply, in cases where there is a physical incorporation of goods or direct services, or where the proportion in which the corresponding appropriation is to be carried out may be known. If this knowledge is acquired in a fiscal year after the purchase, import, location or provision of services, the relevant adjustment shall be made in accordance with the procedure provided for in the third paragraph of Article 13.

Credit documentation

ARTICLE 56. In cases where the levy that has been billed to the person responsible for the final purchase or import of goods, locations or services - including the proceeds of investments in goods of use - does not give rise to the calculation of the tax credit, as a result of the failure to verify the condition provided in the last paragraph of Article 12 of the Law, the FEDERAL ADMINATION OF CONITIES PUBLIC,

Real estate loggers. Tax credit calculation

ARTICLE 57. Inscribed persons who are property owners in which they carry out encumbered activities may be charged as tax credit, in the terms established by law and this regulation, the added value tax corresponding to the provision of running water, gas or electricity, the provision of telecommunications services or other provisions or benefits of similar nature, that the companies providing or providing such goods or services may be by the aforementioned third-party owners the same name of the third-party owners.

The calculation referred to in the preceding paragraph shall be appropriate to the extent that the payment of the invoices involved is carried out by the owner, provided that such obligation is expressly stipulated in the current location contract or, failing that, it is agreed with the locator by a note signed by both.

Donations and deliveries for free. Refund of credit

ARTICLE 58. If an inscribed person assigns goods, works, locations and/or benefits of encumbered services, for donations or deliveries on a free basis, whatever his or her concept, he or she shall return to the fiscal period in which such act occurs, the tax credit that has computed - in accordance with the rules of the law and this regulation - for goods and/or services and/or locations, employed in the acquisition of the goods, works and services

COMPREHENSIVE WEEKS TO FINAL CONSEQUENCES

ARTICLE 59. The provision under article 18 of the Act shall be considered, for all purposes, as an invoiced tax to those responsible, subject to their computation of the provisions governing tax credit in the law and these regulations; for that purpose, the net price corresponding to the application of the said rule shall be deemed net.

COMMITTEES OR CONSIGNATIVES

ARTICLE 60. The tax credit that, as a acquirer, corresponds to those responsible specified in the first paragraph of article 20 of the law, shall be computable to the extent that the same is appropriated separately in the liquidation that the inscription commissioner performs, and shall integrate the amounts to be paid for by the operation.

TURISMO SERVICES

ARTICLE 61. Where those responsible for tourism services, including in their provision the provision of tickets, whether by transport in the country or abroad, they may deduce, for the purpose of determining the taxable base, the price they perceive for that purpose, provided that their explicit discrimination in the bill is extended by such services. Such deduction may not exceed the square price of the respective passages, according to the rates approved by the relevant agencies.

In cases where the transport is carried out by means of its own by the same provider of the tourism service, the amount to be deducted by that concept may not exceed the current value in square of the passages by transports of similar characteristics.

SPECIAL REGULAR

ARTICLE 62. The regime established in article 23 of the Act does not include contracts for the granting of public services for telecommunications, gas, electricity, running water, sewers and drainage, and the work that may be covered by article 3 (a), executed for the purpose of carrying out the provision, so that the imponible facts originating in the operation shall be perfected in accordance with the law of article 5.

HEALTH TO FAVOR

ARTICLE 63. The taxpayer ' s balance referred to in the first paragraph of article 24 of the Act may apply only to tax debits for the following tax periods of the taxpayer.

The limitation set out in the preceding paragraph shall not apply to emerging direct income credits or arising under article 43 of the law.

IMPORTATION OPERATIONS. BASE IMPONIBLE

Determination

ARTICLE 64. For the purposes of article 25 of the Act, it shall be understood as a normal price for the application of import duties, as provided for in the Customs Code.

The mention of the taxes referred to in the above-mentioned section of the Act does not include the tax established by the Act, nor the taxation of the Internal Revenue Act.

Faculty of Customs

ARTICLE 65. Where the customs legislation has the capacity to pay for the property, but there are disputes regarding the elements of the determination of the charges referred to in article 25 of the law, or it is not possible to establish criteria for the same in the time required by the responsible, the General Directorate of ADUANAS, dependent on the FURTHER

Once the final criteria for the elements referred to in the preceding paragraph are set, the above GENERAL DIRECTION OF ADUANAS will carry out the definitive liquidation and perception to which it takes place.

If the liquidation arises a difference in favour of the person responsible, the said customs agency shall, after notification to the said one, refer the case to the General IMPOSITIVA DIRECTION, dependent on the FEDERAL ADMINISTRATION OF PUBLIC INCOME, an auto-archic entity within the scope of the MINISTERY OF ECONOMY AND ARTIES (1) PUBLIC SERVICES (1).

If the person is requested, the so-called IMPOSTITIVE GENERAL DIRECTION shall proceed to the refund to the extent that the amounts had not already been used as a tax credit certificate.

If the final settlement resulted in a higher income from the responsible and the imputation had already resulted in the tax credit certificate, the difference between the amount to be computed to be considered the final declaration and the one already computed on the basis of the provisory system would affect the fiscal year in which the statement was made.

The amounts arising from the final settlement of the aforementioned General Directorate of ADUANAS shall be those which shall be taken into account for all purposes of the law and these regulations.

V - TASAS

ARTICLE 66. The requirement provided for in the second paragraph of Article 28 of the Act to reflect the increase in the liquor established in the same, related to the regulation by meter of the sales of gas, electricity and water, is understandable of any instrument that meets this purpose, regardless of its technological characteristics or the geographical location of its installation.

The increase in the liquota provided for in the legal rule referred to in the preceding paragraph shall not be applicable when the sale or the provision is intended for legally independent individuals who are resellers or, where appropriate, co-sponsors, of the same goods or services covered by the same, or in the case of gas provisions used as input in the generation of electric energy.

V - RESPONSIBILITIES

Different activities

ARTICLE 67. In the cases provided for in the fourth paragraph of article 29 of the Act, it should be considered as a non-tax differentiated activity, that carried out in relation to dependency, even if it has a professional technical link with the remaining activities carried out by the responsible.

Primary producers. Initiation of activities

ARTICLE 68. In the cases provided for in the last paragraph of Article 35 of the Law, the FEDERAL ADMINISTRATION OF PUBLIC INCOME, an auto-archic entity within the scope of the MINISTERY OF ECONOMY AND ARTWS AND SERVICES PUBLICS, at the request of the person responsible, may agree on special deadlines for the purpose of determining the condition that the person shall have in the face of the tribute.

VI - INSCRIPTION. EFFECTS AND OBLIGATIONS

INSCRIPTION

Categorization of responsible

ARTICLE 69. The FEDERAL ADMINSTRATION OF PUBLIC INCOME, an auto-archic entity within the scope of the MINISTERY OF ECONOMY AND ARTS AND PUBLIC SERVICES, shall dictate the rules to which the passive subjects of the tribute, mentioned in Article 4 of the law, shall be adjusted, in order to outsource their status as inscribed or to have exercised the same quality as provided for in the article 29

Importers

ARTICLE 70. The release provided for in article 36 (a) of the Act shall be deemed applicable to the passive subjects of the "definite obligation" and exclusively in relation to this fact.

RESPONSIBLE INSCRIPTS. SUS OBLIGATIONS

Operations with end-users and with exempt or unsuccessful subjects

ARTICLE 71. For the purposes of article 39 of the Act, end-users will be considered to assign goods or services for use or private consumption.

Such quality will also be re-established by those who are not registered in relation to the goods of use that are intended for their encumbered activity, by means of goods of use those whose useful life period, for the purposes of the tax on profits, is higher than DOS (2) years.

Authorization to discriminate against tax in cases where it should not be done - Conditions

ARTICLE 72. Notwithstanding the provisions of article 39 of the law, when the use of computerized, electronic, electromechanical or mechanical systems is made for the purposes of the issuance of proofs, with which it is difficult to comply with the requirement of the aforementioned standard, the tax on the operation may be discriminated against, even if the invoices or equivalent documents are extended to the name of the final consumers or those whose operations are not

Subjects

ARTICLE 73. Any encumbered operation performed by a responsible inscribed with whom it does not credit a similar condition against the tax, is presumed to be performed by an unregistered responsible who does not act as a final consumer unless:

(a) the acquirer or locator expressly declares his final consumer status through the acceptance of the receipt or invoice that for such purposes shall be issued in accordance with the provisions of the FEDERAL INCOME ADMINISTRATION PUBLICS, autarchical entity within the scope of the MINISTERY OF ECONOMY AND OURS AND PUBLICAL SERVICES, and provided that the seller or non-locaker is reasonable

(b) the acquirer or locator checks his status as a subject exempt or unsuccessful by the taxation, in the manner established by the said body.

VII - EXPORTERS. SPECIAL REGULAR

Exporter

ARTICLE 74. For the purposes of article 43 of the Act, an exporter shall be deemed to be an exporter, to whom the export is made, to be made in his name or on behalf of a third party.

Compensation

ARTICLE 75. For the purpose of determining the limit provided for in the second paragraph of article 43 of the Act, the amount of exports shall be established in all cases in accordance with the definition of value given in articles 735 to 750 of the Customs Code.

When it can be demonstrated in the manner and conditions that in this respect resolves the FEDERAL ADMINISTRATION OF PUBLIC INCOME, autarchical entity within the scope of the MINISTERY OF ECONOMY AND ARTWS and SERVICES PUBLICS, that the amount of the aforementioned limit, calculated according to the prescript of the previous paragraph, shall be deemed to be less than the amount of the taxation of the last period

The remaining balance resulting from the compensation provided for in the first paragraph of that article 43 arising from the application of the said limit may be transferred to the following fiscal periods, taking into account, for each of them, the above-mentioned applicable ceiling.

Exporters recipients of regimes granting the release of tax in the domestic market

ARTICLE 76. For the purposes provided for in the third paragraph of article 43 of the law, it shall be presumed, without being admitted to the contrary, that the situation provided for in that rule is set up when the beneficiary of the regime granting the release of the tax in the domestic market makes its exports through persons or societies that can economically be considered to be linked to it, on the basis of the origin of its capitals, of the effective direction of the business, of the distribution of profits, or of any other circumstance that indicates the economic existence.

Likewise, the presumption established above shall be applicable when the totality of the operations of the beneficiary or of a particular category thereof is absorbed by that exporter, or when the most of the purchases of the latter or of a particular category thereof are made to the first.

International transport

ARTICLE 77. In the cases provided for in article 7 (h), points 13 and 14), of the law, the effective provision and billing of the respective services shall be assimilated to export.

VIII - CONSOCTIONS OR COOPERATIVAS OF EXPORTATION

INTERNATIONAL TRADE COMPANIES

Goods for export.

Timelines and requirements

ARTICLE 78. The subjects covered by article 44 of the Act may be entitled to the special regime of this Chapter, for the purchase of goods that are intended for export, which shall be completed, as provided for in article 41 of this regulation, within a period not exceeding CIENTO OCHENTA (180) days, from the date of acquisition of the same, and shall be subject to this last circumstance in accordance with the provisions of the law.

In respect of its remaining operations, aimed at achieving the above-mentioned exports, the provisions of article 43 of the Act shall apply.

Registration

ARTICLE 79. For the purposes of the previous article and without prejudice to its subjection to the remaining provisions of the law and these regulations applicable to them, such subjects shall be inscribed in the FEDERAL ADMINISTRATION OF PUBLIC INCOMES, an auto-archic entity within the scope of the MINISTERY OF ECONOMY AND PUBLIC SERVICES, according to the rules established by the law

Providers of subjects welcomed to the regime

ARTICLE 80. The suppliers of the subjects referred to in rule 78 of these rules shall retain in their possession a duplicate, made up of such purchasers, of the proof that it credits the status of the same as those held in this special regime, having to liquidate and invoice the corresponding operations as provided for in article 37 of the Act.

Operations with subjects in the regime.

In favour

ARTICLE 81. Those responsible who engage in operations with individuals under this regime may charge against the tax resulting in the application of article 27 of the law, the amount of the tax that has been incurred in the aforementioned operations, carried out in the liquidated fiscal period.

If the compensation permitted in this article can only be partially realized, the resulting balance in favour of the responsible shall be treated in the first paragraph of article 24 of the law, unless it is credited, in accordance with the rules established by the FEDERAL ADMINISTRATION of PUBLIC INGRESOS, an auto-archic entity within the scope of the MINISTERY of ECONOMY and ARTWS provided for in the second case

Certificates

ARTICLE 82. For the purposes of the imputation referred to in the first paragraph of the previous article, the subjects accepted to the present regime shall give to their suppliers a certificate in which it contains in detail the operation carried out and the amount of tax that is canceled by it, which must be delivered by the latter to the FEDERAL ADMINISTRATION OF PUBLICS, SERVICE Autarchical entity in the scope of the MINISTERY

Identification requirements of certificates

ARTICLE 83. The FEDERAL ADMINISTRATION OF PUBLIC INCOME MINISTERY, an autonomous entity within the scope of the MINISTERY OF ECONOMY AND ARTS AND PUBLIC SERVICES, in the form and conditions established in this respect and in the presentation of the corresponding purchase invoices, shall grant the subjects accepted to the present regime the certificates referred to in the previous article, which shall be issued with the approval of the said operation.

In such certificates, which shall be intransferable, the designation and other identifying data of the consortium or cooperative of export of goods and services, or international marketing company that requests it and the supplier to which it will be delivered to cancel the tax corresponding to the operation performed, as well as a detailed detail of the same and the period within which the export of the purchased goods must be completed.

Registration of certificates

ARTICLE 84. For the purpose of verifying compliance with the time limit provided for in article 78 of this regulation, the FEDERAL ADMINISTRATION OF PUBLIC INCOME, an auto-archic entity within the scope of the MINISTERY OF ECONOMY AND ARTWORKS AND PUBLIC SERVICES, shall keep a record of the certificates granted, which shall be co-chaired with the export vouchers that the DIRECTION

Implications for non-compliance with deadlines

ARTICLE 85. When the time limit provided for in rule 78 of these rules is not met, the subjects accepted under the present regime shall enter the levy corresponding to the transactions in violation by which the aforementioned certificates have been granted, with more the interests and other accessories that may correspond, referred to the expiration date of the affidavit of the supplier that charged them to cancel the tax of their settlement.

The non-compliance provided for in the preceding paragraph by the persons referred to in the same paragraph shall arise the personal and solidarity responsibility of the supplier who used the certificates for the operations in violation, pursuant to rule 81 of this regulation, provided that there is an economic link of any nature between the latter and the acquirers covered in article 44 of the law, when the latter, required by the agreed Such personal and solidarity responsibility shall be invoked by the procedure provided for in article 24 of Act No. 11.683, which was ordained in 1978 and its amendments.

The economic linkage referred to in the preceding paragraph shall be presumed, except evidence to the contrary, when the entire operation of the supplier, or of a particular category thereof, is absorbed by the host company, or when almost all purchases of the latter, or of a particular category thereof, are made to the same supplier.

In the event that the non-compliance referred to in the first paragraph of this article is due to causes other than the exporter, duly verified, the FEDERAL ADMINISTRATION OF PUBLIC INCOME, an auto-archic entity within the scope of the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES, it may agree on a new time, in the form and conditions established by it.

Transgressions to the regime

ARTICLE 86. Without prejudice to the penalties that may be commensurate with the application of Act No. 11,683, which was ordained in 1978 and its modifications, the breaches of this regime shall be subject to the penalties that apply to the rules governing the creation and operation of the companies covered by it.

To this end, the FEDERAL ADMINISTRATION OF PUBLIC INCOME MINISTERY, an auto-archic entity within the scope of the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES, will communicate to the SUBSECRETARIA OF EXTERIOR TRADE, an agency dependent on the SECRETARIA DE INDUSTRIA, TRADE and MINERBA of the Ministry,

Supplementary standards

ARTICLE 87. The FEDERAL ADMINISTRATION OF PUBLIC INCOME MINISTERY, an auto-archic entity within the scope of the MINISTERY OF ECONOMY AND PUBLIC SERVICES, will dictate the complementary norms it considers necessary for the fulfillment of this regime.

IX - OTHER PROVISIONS

Media. Specific activities

ARTICLE 88. The exemption set out in article 49 of the Act, with respect to the income obtained by the written press, radio and television stations, news agencies and publicity, as a result of the development of their specific activities, does not include those attributable to the encumbered assets that are commercialized jointly or supplementally with such activities, as long as they have a differentiated price of the sale or main benefit and are not an element without which the latter could not be made.

For the purposes of the preceding paragraph, it shall be understood that the said assets have a differentiated price when they possess their own marketing value, even if the same integrates the price of the operations they supplement, increasing the usual bargaining amounts of them.

Editorials. Account payments

ARTICLE 89. Direct income or tax-account payments and/or on assets and their corresponding advances, provided for in article 50 of the Act, shall be computable against such taxes in the proportion that the particular tax corresponds to the proceeds derived or, where appropriate, to the assets affected to the activity in which the assets originating the credit are used.

X - TRANSITORY PROVISIONS

WORKS ON INMUEBLE AJENO ORIGINADOS IN CONTRATATIONS ANTERIORES AS AT 1 JANUARY 1974

Liquidation of tax

ARTICLE 90. The imponible facts referred to in article 3 (a) of the Act, which originated in contracts prior to 1 January 1974, shall be settled at the rate for which they govern the sales tax at the date of recruitment.

For the purpose of limiting the computation of the tax credit set out in the first paragraph of article 8 (a) of Act No. 20,631, which is in force prior to the amendment introduced by its similar paragraph No. 21,376, in the case of acquisitions, final imports, locations or service benefits, which are linked to the taxable facts set out in the preceding paragraph, it shall be considered as a applicable rate, as indicated in that paragraph.

When the above-mentioned impossible facts were to the date of recruitment outside the scope of the sales tax or exempt from it by general or special rule, they shall be accorded similar treatment, as appropriate, in the value added tax.

Identical treatment of the provisions of the above paragraphs will be applicable, when the above facts were attributable to subcontracts subsequent to 1 January 1974 by partial works, including a contract prior to that date, where the total and unmovable price of the work had been fixed.

Date of recruitment

ARTICLE 91. For the purposes of the previous article, the date of recruitment shall be deemed to be the date of the act that accredits it in a fruitful manner, in accordance with the complementary rules dictated by the FEDERAL ADMINISTRATION OF PUBLIC INCOMES, an auto-archic entity within the scope of the MINISTERY OF ECONOMY AND PUBLIC SERVICES.

In the case of public or private tenders, the opening date of the proposals shall be understood as the date of procurement unless, prior to the final award, price increases have been agreed, in which case the date of the award shall be understood as the date of procurement.

WORKS ON INMUEBLE AJENO ORIGINADOS IN CONTRATATIONS OF THE YEAR 1974

ARTICLE 92. The facts attributable to article 3 (a) of the Act, which had originated in contracts of a certain date in the year 1974, would result in the treatment provided for in article 90 of this regulation to the extent that the same, as expressly provided for in the above-mentioned contracts, should have been verified during that year.

Identical criterion shall apply for the facts attributable to the subcontracting originating in the above-mentioned contracts, to the extent that they, by virtue of their provisions, had to be verified in 1974.

ORIGINED INMUEBLES IN ANNTERIAL CONTRACTIONS AS AT 1 JANUARY 1974

ARTICLE 93. The imponible facts referred to in article 3 (b) of the Act, which originated in contracts with a certain date prior to 1 January 1974, shall be outside the scope of the tax.

DATE CERTAIN

ARTICLE 94. For the purposes of the DOS (2) previous articles and without prejudice to the provisions of the Civil Code, a certain date shall also be deemed to be the unused date for the stamping of the stamping tax which the document carries, provided that it has been made by official agents.

REGIME CHANGE

ARTICLE 95. Those responsible under the simplified regime, who acquire from the entry into force of Law No. 23,765 the quality of inscribed officials, shall be entitled to deduct the tax credit from acquisitions of goods of use, in the proportion attributable to the fiscal periods beginning from the said validity and in accordance with the provisions of article 54 of the Act, not subject to discrimination of their invoice.

OPERATING AND CANJE OPERATIONS

ARTICLE 96. The provisions set out in the second and third paragraphs of article 5 (a) of the Act shall be applicable to the extent that prior to their entry into force the relevant taxable act would not have been perfected.

ANNTICIPS CONCERNING PRECY RECEIVED WITH ARRORITY AS AT 31 OCTOBER 1990

ARTICLE 97. In the case of signs or advances that freeze price, received prior to 31 October 1990, for operations in which the delivery of the goods or issuance of the invoice occurs from 1 December of the same year, the updating rules provided for in the seventh paragraph of Article 9 of the law in force as at the date on which they were effective shall apply.

The above-mentioned update shall also not correspond, when the signs or advances referred to in the preceding paragraph had been effective on 31 October 1990 and the delivery of the good or its billing would take place during the month of November of the same year.