Allocation of Payments and Credit – Article 9 – Federal Tax Procedures Executive Regulations

Article 9 – Allocation of Payments and Credit

1. If the Taxable Person pays any amount to the Authority without specifying the type of Tax or Tax Period to which it relates, the Authority may allocate the amount, or part thereof, for settling any amounts due to the Authority based on the seniority of such amounts due to the Authority.

2. If the amount received by the Authority under Clause 1 of this Article exceeds the Taxable Person’s existing liabilities, the Authority shall treat the excess amount as a credit against future liabilities of the Taxable Person, unless the Taxable Person requests the excess amount to be refunded pursuant to Article 38 of the Decree-Law.

3. The Authority may allocate the credit balance, or part thereof, to settle any amounts due to the Authority by the Taxable Person according to the seniority of such amounts due to the Authority.

4. The Authority shall notify the Taxable Person of the allocation of payments and credit according to Clauses 1 and 3 of this Article.