S.I. No. 147/2010 - Finance Act 2010 (Section 133 (1)) (Commencement) Order 2010.

1. This Order may be cited as the Finance Act 2010 (Section 133(1)) (Commencement) Order 2010.

2. The date of the making of this Order is appointed as the day on which

section 133

(1) of the

Finance Act 2010

(No. 5 of 2010) comes into operation.

Given under my official seal,

8 April 2010.

BRIAN LENIHAN,

Minister for Finance.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation).

This Order provides for the coming into effect of

section 133

(1) of the

Finance Act 2010

.

Section 133(1) of the Finance Act amends

sections 8

,

12

and

17

of the

VAT Act 1972

. It provides for the reverse charge mechanism to apply where a taxable person who carries on a business in the State receives greenhouse gas emission allowances from another taxable person who carries on a business in the State.

Section 133(1) of the Finance Act transposes Council Directive 2010/23/EU of 16 March 2010

1

which amends Council Directive 2006/112/EC of 28 November 2006

2

on the common system of value added tax. Council Directive 2010/23/EU provides for an optional and temporary application of the reverse charge mechanism in relation to supplies of certain services susceptible to fraud.

1 OJ No. L 72, 20.03.2010, p.1

2 OJ No. L347, 11.12.2006, p.1

1 OJ No. L 72, 20.03.2010, p.1

2 OJ No. L347, 11.12.2006, p.1

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

13

th April

, 2010.

I, BRIAN LENIHAN, Minister for Finance, in exercise of the powers conferred on me by

section 133

(2) of the

Finance Act 2010

(No. 5 of 2010), hereby order as follows