Value Added Tax (Exemption from Registration) Regulations, 2010

B

L.N. 524 of 2010

VALUE ADDED TAX ACT

(CAP. 406)

Value Added Tax (Exemption from Registration) Regulations, 2010

IN exercise of the powers conferred byarticles 13(7) and 75 of

the Value Added Tax Act, the Minister of Finance, the Economy and

Investment has made the following regulations:-

(1)

The title of these regulations is the Value Added Tax Citation and

(Exemption from Registration) Regulations, 2010.

commencement

(2)

These regulations shall come into force on the 1st January

2011.

(1)

In these regulations, unless the context otherwise Interpretation.

requires -

"the Act" means the Value Added Tax Act;

"registration threshold" means a turnover that does not exceed

seven thousand euro (€7,000) in a relevant period;

"relevant period" means a calender year commencing on the 1st

January and ending on the 31st December; and

"turnover" has the meaning assigned to it in Part One of the

Sixth Schedule to the Act.

(2) Other items and expressions shall have the meanmg

assigned to them in the Act.

(1)

The Commissioner shall not register, under article Exemption from

11 of the Act, any taxable person established in Malta who is not registration

under the Act.

registered under article 10 of the Act and whose turnover does not

exceed the registration threshold.

(2) Notwithstanding the provisions of subregulation (1), any

taxable person established in Malta may opt to register under article

10 of the Act.

The Commissioner shall, as from the date of coming into Deregistration

force of these regulations, take measures to deregister taxable of

article 11.

persons, registered under article 11 of the Act, whose turnover during

the relevant period does not exceed the registration threshold.

Any person who is not registered by virtue these

regulations is released from the obligation to issue a fiscal receipt in

~

respect to supplies made.

Where the turnover of a taxable person who is not

registered by virtue of these regulations exceeds the registration

threshold within a relevant period, that person shall apply to· be

registered under articles 10 or 11 of the Act, as the case may be,

within thirty days from the date when the registration threshold is

exceeded

Provided that any person who fails to apply for registration

as required in terms of this regulation shall become subject to all the

sanctions provided for under the Act.

Where the Commissioner has reason to believe that any

person does no longer qualify under the provisions of these

regulations or where that person fails to justify that his turnover is

below the registration threshold, the Commissioner shall register that

person in terms of article 1 0(6) of the Act.

S. These regulations shall be without prejudice to the

provisions ofthe Act, which shall remain in force where applicable.

Dawn ir-regolamenti huma minghajr pregudizzji ghad-

disposizzjonijiet tal-Att, Ii ghandhom jibqghu fis-sehh fejn hum a

applikabbli.

The Value Added Tax (Exemption from Registration)

Regulations, 2010, published by Legal Notice 500 of2010, are hereby

revoked.

IppubbJikat mid-Dipartiment taI-Informazzjoni (doi.gov.mt) - Valletta - Published by the Department of Information (doi.gov.mt) - Valletta

Mitbugll f1-Istamperija taI-Gvern fuq karta riCiklata - Printed at the Government Printing Press on recycled paper

PrexrJPrice

€o.19