Customs and Excise Tax Act and the Value Added Tax Act, 1994)

L.N. 506 of 2011

VALUE ADDED TAX ACT

(CAP. 406)

Value Added Tax (Remittance of Interest and Administrative

Penalties incurred under the Value Added Tax Act, 1998, the

Customs and Excise Tax Act and the Value Added Tax Act, 1994)

(Amendment No. 2) Regulations, 2011

IN exercise of the powers conferred by articles 21, 42 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

(Remittance of Interest and Administrative Penalties incurred under commencement.

the Value Added Tax Act, 1998, the Customs and Excise Tax Act and

the Value Added Tax Act, 1994) (Amendment No. 2) Regulations,

2011, and these regulations shall be read and construed as one with

the Value Added Tax (Remittance of Interest and Administrative S.L. 406.18

Penalties incurred under the Value Added Tax Act, 1998, the Customs

and Excise Tax Act and the Value Added Tax Act, 1994) Regulations,

hereinafter referred to as "the principal regulations".

(2) These regulations shall be deemed to have come into force

on 15 December 2011.

Sub-paragraph (c) of paragraph 4 of Annex A of the Amends Annex

principal regulations shall be substituted by the following new A

principal

paragraph

regulations.

"(c) furnishes all VAT returns due on the 15 November

2011 and on the dates on which subsequent returns fall due after

this date, in time, accompanied by full payment of the amount

declared in the respective returns

Provided that, without prejudice to any administrative

penalties and interest that may accrue under the VAT Added Tax

Act, 1998, the Commissioner may allow a registered person to

remain eligible for remittance under the scheme where

(i) a VAT return due to be furnished by that

person on 15 November 2011 is furnished after this date

but in any case by not later than 15 December 2011

accompanied by full payment of the amount declared in

that return, in which case the applicable date for the

purposes of paragraph 1 of this Annex shall be deemed to

be 15 November 2011;

(ii) a VAT return due to be furnished by that

person on 15 December 2011 is furnished after this date

but in any case by not later than 31 December 2011

accompanied by full payment of the amount declared in

that return, in which case the applicable date for the

purposes of paragraph 1 of this Annex shall be deemed to

be 15 December 2011;".

€0.18