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Value Added Tax Act (Cap. 406) Value Added Tax ((Fourth Schedule) (Amendment) Regulations, 2010 (L.N. 71 Of 2010 )

VERŻJONI ELETTRONIKA

B 751

IN virtue of the powers conferred by articles 8 and 75 of the Value Added Tax Act, hereinafter referred to as “the Act”, the Minister of Finance, the Economy and Investment has made the following regulations:

(2) These regulations shall be deemed to have come into force on the 1st January, 2010.
( 3 ) T h e s e r e g u l a t i o n s s h a l l b r i n g i n t o f o r c e t h e provisions of paragraph 1 of article 1 of Council Directive
2008/117/EC of 16th December 2008 amending Council Directive
2006/112/EC.

(2) there shall be inserted the following proviso:
“Provided that, when a continuous supply of goods does not give rise to statements of account or payments during a year, it shall be regarded as being delivered at least at intervals of one year.”.

“Provided that, when a continuous supply of services does not give rise to statements of account or payments during a year, it shall be regarded as being completed at least at intervals of one year.”.

Citation and commencement.

Amends item 1 of the

Schedule.

Amends item 2 of the

Schedule.

B 752 VERŻJONI ELETTRONIKA
(2) In item 2 of the Schedule, immediately after paragraph (2) as amended there shall be inserted the following new paragraph:
“(3) Notwithstanding the provisions of paragraph (2), when a supply of services for which VAT is payable pursuant to article 20(2)(b) of the Act is supplied continuously over a period of more than one year and it does not give rise to statements of account or payments during that period it shall be regarded as being completed on expiry of each calendar year until such time that the supply comes to an end.”.