European Union Directives (Amendment) Regulations, 2016

L.N. 44 of 2016

INCOME TAX ACT

(CAP. 123)

European Union Directives (Amendment) Regulations, 2016

IN exercise of the powers conferred by articles 52B and 96 of

the Income Tax Act, the Minister for Finance has made the following

regulations:-

(1)

The title of these regulations is the European Union Citation and

Directives (Amendment) Regulations, 2016, and these regulations commencement.

shall be read and construed as one with the European Union S.L.123.74

Directives Regulations, hereinafter referred to as "the principal

regulations".

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

on 30 November 2015.

Council Directive (EU) 2015/2060 of 10 November 2015 Council

repealing Council Directive 2003/48/EC shall have effect in relation Directive

2015/2060.

to the Income Tax Acts.

Regulation 5 of the principal regulations shall be deleted Deletes

with effect from 1 January 2016. However, as provided in paragraph 1 regulation

the principal

of Article 1 of the above-mentioned Council Directive (EU) 2015/ regulations.

2016, the following obligations under Directive 2003/48/EC, as

amended by Directive 2006/98/EC (hereinafter referred to as

Directive 2003/48/EC as amended), as reflected in the said regulation

5 and in Schedules 1 and 2 to the principal regulations shall continue

to apply as provided hereunder

(a)

the obligations established under the second sub-

paragraph of Article 4(2) of Directive 2003/48/EC as amended

shall continue to apply until 5 October 2016 or until those

obligations have been fulfilled;

(b) the obligations under Articles 8 and 9 of Directive

2003/48/EC as amended shall continue to apply until 5 October

2016 or until those obligations have been fulfilled;

(c)

the obligations under Article 13(2) of Directive

2003/48/EC as amended shall continue to apply until 31

December 2016;

B

(d) the obligations under Article 14 of Directive 2003/

48/EC as amended, with regard to withholding tax levied during

2016 and previous years, shall continue to apply until those

obligations have been fulfilled.

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