Understanding Sales, Goods, and Taxation in Commerce

Definition of Sale

• a) Any action for consideration which involves the transmission of taxable goods.
• b) The transfer of goods made by brokers and others that are performed for third parties.
• c) The removal of goods carried out by the shareholder, owner, or operator of the same company or enterprise.

Definition of Goods

It is understood as such to be the body that can be moved from one place to another, including the rights relating thereto, warehouses, aircraft, distinctive signs, inventions, rights, and key-like items, as well as documents and titles which involve the transfer of any of such property.

Tax Subjects

C ontribuyentes: One who engages in taxable activity, i.e., one who sells goods, provides services, or imports goods.

Incidental Nature

When, by reason of the sale of goods, provision of taxable services, or construction contracts, property or services exempt from tax are provided, the value of these forms part of taxable income, provided that they are included in the value entered on the receipt.

Tax Credit

The tax credit is constituted by the General Sales Tax recorded separately in the proof of payment to support the procurement of goods, services, and construction contracts or paid on importation.

The Tribute

Contribution that all citizens pay to the state for goods and services.

Commissions

A person who sells for a company or sells on behalf of a third party.

Consignatario

Person who sells on their own account, and the product is not owned by the consignatario, as there is no proof evidencing the transfer of property.

Consignation

Delivery of goods under one condition.

Import

Customs procedure that allows the legal entry of goods from abroad for consumption.

Tax Gross

The gross tax for each taxable transaction is the amount calculated by applying the tax rate to the tax base.

Tax Credit

The tax credit is constituted by the General Sales Tax recorded separately in the proof of payment to support the procurement of goods, services, and construction contracts or paid at the import.

Substantial Requirements

• Cost or Expense: Allowed as a cost or expense for the company for income tax, even if the company does not affect the latter tax.
• Bound: Taxable transactions intended for transactions on which tax is payable.

Formal Requisites

• Tax: The tax discrimination must be inscribed separately on the receipt.
• Payment Voucher: Payment vouchers must be issued in accordance with existing rules on the subject.
• Logging the Purchasing: Payment vouchers must be entered in the Register of Purchases within the period specified by the regulation.