422 tal-2012

L.N. 422 of 2012

VALUE ADDED TAX ACT

(CAP. 406)

Value Added Tax Act (Amendment of Eleventh Schedule)

Regulations, 2012

IN virtue of the powers conferred by articles 48 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

Act (Amendment of Eleventh Schedule) Regulations, 2012, and these

regulations shall be read and construed as one with the Eleventh

Schedule to the Value Added Tax Act, which Eleventh Schedule is

hereinafter in these regulations referred to as "the Schedule".

(2) These regulations bring into force the provisions of

Council Directive 2010/45/EU of the 13th July 2010 amending

Council Directive 2006/112/EC.

(3) These regulations shall come into force on the 1st January

2013.

Item 1 of the Schedule shall be amended as follows

(a)

the item shall be re-numbered as item "1(1)"; and

(b) immediately after paragraph (1) thereof, as re-

numbered, there shall be added the following new paragraphs

"(2) Invoices shall be stored in the original form in

which they were sent or made available, whether paper or

electronic. Additionally, in the case of invoices stored by

electronic means, the Commissioner may require that the

data guaranteeing the authenticity of the origin of the

invoices and the integrity of their content as provided for

in the Twelfth Schedule shall also be stored by electronic

means.

(3) Where a taxable person stores by electronic

means invoices which he issues or receives, guaranteeing

online access to the data concerned to the Commissioner,

and where the tax is due in another Member State, the

competent authorities of that Member State shall, for

control purposes, have the right to access, download and

use those invoices.".

€0.09