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in question. They will be calculated by subtracting from the total accrued income of theperiod from the beginning of the fiscal year until the last day of the month the paymentis made, the authorized deductions corresponding to the same period. The correspondingtax rate will be applied to the result, less the provisional payments made.Finally, to calculate the provisional payments of the IETU, just as in its annual determination,the proportional application of certain additional credits previously explainedin relation to the annual payment is allowed.In the event it is not possible to totally or partially credit the provisional paymentsagainst the IETU, the amount can be offset against the ISR of the fiscal year and a refundcan be requested when, after making such an offset, there will be a balance in favor ofthe taxpayer.3.6. Powers of the AuthoritiesThe law specifically establishes the power of the tax authority to presumptively determinea tax liability for the IETU, determining the accrued income and applying the documenteddeductions thereto and the corresponding tax rate.In any case, the taxpayer can choose to have the tax authorities apply, instead of theabove, the coefficient of 54 percent on the presumptively determined income and the correspondingtax rate to the result.125Tax Regime3.7. Special RulesWe believe the above provides a general description of the regulation of the IETU. However,the same law establishes special regulation of the following matters: companies thatconsolidate fiscally, the members of nonprofit entities, trusts, financial system and derivativefinancial operations and the small taxpayer regime, among others.These special regulations are set forth in several chapters of the law, but we will notenter into such detail for purposes of this study.4. Value Added TaxValue Added Tax (VAT) is an indirect tax designed to tax consumption. For the purposesof determining this tax, a distinction is made between the passive subject or the one obligatedto pay the tax and the affected subject.For purposes of VAT, the seller of goods, the provider of services or whoever grants theuse or enjoyment of goods, must transfer the VAT incurred to the person acquiring orreceiving them, expressly and separately. Transfer is understood to mean the charge thatthe person obligated to pay the VAT should make to the person receiving the goods, the