VALUE ADDED TAX: SUBSIDIARY LEGISLATION

VALUE ADDED TAX: SUBSIDIARY LEGISLATION

VALUE ADDED TAX REGULATIONS

VALUE ADDED TAX REGULATIONS

    REGULATION

PART I
PRELIMINARY

    1.    Citation

    2.    Interpretation

PART II
REGISTRATION OF TAXABLE PERSONS

    3.    Application for registration

    4.    Registration name

    5.    Group registration

    6.    Separate registration of branches of business

    7.    Transfer of a going concern

    8.    Notification of registration and non-registration

    9.    Request for further information.

    10.    Taxpayer identification number

    11.    Display of registration certificate

PART III
SUPPLY OF GOODS AND SERVICES

    12.    Supplies made by a partnership

    13.    Supplies made by members of a group

PART IV
TAXABLE SUPPLIES

    14.    Supplies made by non-resident persons

PART V
TIME AND PLACE OF SUPPLY

    15.    Places of supply of services

    16.    Deposits

    17.    Goods supplied on sale or return

    18.    Imported goods

    19.    Tax invoices

    20.    Retention of tax invoices, etc.

PART VI
TAXABLE VALUE

    21.    Adjustment of value debit and credit notes

PART VII
DEDUCTION OF INPUT TAX AND REFUNDS

    22.    Non-deductible input tax

    23.    Purchases prior to registration

    24.    Refunds

    25.    Deductible tax for mixed taxable and exempt supplies

PART VIII
VALUE ADDED TAX RETURNS, RECORDS AND ASSESSMENT

    26.    Tax return form

    27.    Special retail scheme

    28.    Annual adjustments

    29.    Decision on special retail scheme

    30.    Retail sales receipt

    31.    Use of electronic cash registers

    32.    Authorization of other schemes by Commissioner-General

    33.    Withdrawal of privilege

    34.    Value Added Tax and other records

    35.    Records to be maintained by independent units

    36.    Records to be maintained by a registered group

    37.    Assessment to include interest and penalties

PART IX
RECOVERY OF VALUE ADDED TAX DUE, INTEREST AND OTHER LIABILITIES

    38.    Liability of persons ceasing to be partners

    39.    Liability of members of a registered group

PART X
MISCELLANEOUS PROVISIONS

    40.    Use of banks

    41.    Credit for Value Added Tax paid

    42.    Contract entered into before and after the effective date

    43.    Relief of Value Added Tax

    44.    Manuals and circulars

    45.    Revocation and Savings of Surtax Regulations

        SCHEDULE

G.N. 11/2006
6/2016
6/2020

VALUE ADDED TAX REGULATIONS

under s. 63 (1)

PART I
PRELIMINARY

1.    Citation

    These Regulations may be cited as the Value Added Tax Regulations.

2.    Interpretation

    In these Regulations unless the context otherwise requires—

    “daily gross takings” include—

    (a)    all payments, including Value Added Tax received by or on behalf of, a taxable person from cash customers for retail supplies made to such customers;

    (b)    the full value, including Value Added Tax, of all credit or other non-cash retail sales at the time the sale is made; and

    (c)    any other adjustment made to the record of daily gross takings;

    “effective date” means the date these Regulations enter into force;

    “retailer” means any taxable person making supplies of taxable goods or services mainly or exclusively directly to private consumers;

    “special retail scheme” means one of the methods of accounting for Value Added Tax set out in regulation 32;

    “takings” means all forms of payment, including cash, cheques, bank drafts, credit cards and postal orders; and

    “Value Added Tax office” means the local Value Added Tax office nearest to a taxable person’s principal place of business.

PART II
REGISTRATION OF TAXABLE PERSONS

3.    Application for registration

    (1) A person who, on the effective date—

    (a)    qualifies as a taxable person; or

    (b)    has grounds to believe that he will qualify as a taxable person,

    shall, not less than thirty days after the effective date, apply to the Commissioner-General for registration as a taxable person in the prescribed form contained in the Schedule

    (2) A person who, after the effective date—

    (a)    qualifies as a taxable person; or

    (b)    has grounds to believe that he will qualify as a taxable person,

    shall, within thirty days of qualifying or having grounds to believe he will qualify as a taxable person, apply to the Commissioner-General to be registered as a taxable person in the prescribed form contained in the Schedule hereto.

4.    Registration name

    The name for registration as a taxable person shall—

    (a)    in the case of an individual, be the name of the individual;

    (b)    in the case of an individual who indicates a business registered name in the application, be both the individual and the business names;

    (c)    in the case of a partnership, be the name of the partnership; and

    (d)    in any other case, be the name submitted on the application form for registration.

5.    Group registration

    (1) Two or more corporate bodies may apply to be registered as members of a group if—

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