What does the prescription consist of and what rights may be prescribed?

Within the legal field, the lack of exercise of a right, for a specified period of time ends up producing its termination.

The following rights and actions from the mere passing of time in the area of taxation prescribed are:

a) The right of the administration to determine the tax liability by timely settlement. For example, after the period of limitation (see next section), the Administration cannot inspect the tax position of a taxpayer, for the simple reason that such exercises and taxes have been prescribed.

b) The action to demand payment of settled tax debts.
For example, the Administration may not demand a taxpayer the payment of a duly settled and notified tax liability, if, between the date of notification of the settlement and payment of the new requirement has elapsed the limitation period. Therefore, the debt is understood to be prescribed.

c) The action to impose tax penalties. It is a logical consequence of previous letters a) and b).

d) The right of the taxpayer to obtain repayment of sums paid (see section 1.12). Here, unlike the three previous cases, prescription plays in favour of the administration, so that if the taxpayer warns that, for whatever reason, has made an improper entry to the Treasury, the taxpayer is not entitled to a refund if the limitation period has already passed.

In the case of debts appealed in administrative proceedings, the courts have indicated that inactivity of the procedure for a period of five years, not due to attributable causes to the claimant, nor justified reasons the procedure determines the prescription. However, in these cases the administration remains reluctant to admit this criterion, justifying its position on the fact that, having a debt appealed and guaranteed, the prescription is operative as the execution of the administrative act is "suspended" (see section 4.9). Fortunately, this managerialism doctrine has been largely fulfilled.