Value Added Tax Act (Amendment of Sixth Schedule)

L.N. 463 of 2020

VALUE ADDED TAX ACT

(CAP. 406)

Value Added Tax Act (Amendment of Sixth Schedule)

(Amendment No. 2) Regulations, 2020

IN EXERCISE of the powers conferred by article 75 of the Value

Added Tax Act, the Minister for Finance and Financial Services, has

made the following regulations:-

(1) The title of these regulations is Value Added Tax Act Citation and

(Amendment of Sixth Schedule) (Amendment No. 2) Regulations, commencement.

2020 and these regulations shall be read and construed as one with the Cap. 406.

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

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

(2) Regulation 3 shall come into force on such date as the

Minister for Finance and Financial Services may, by notice in the

Gazette, establish.

Item 2 in Part One of the Sixth Schedule shall be amended Amends item 2

in Part One of

as follows:-

the Sixth

Schedule.

(a) in sub-item (1), for the words "the first full thirty-six

calendar months" there shall be substituted the words "the first

full twenty four calendar months"; and

(b) immediately after sub-item (2), there shall be added

the following new sub-item (3)

"(3) Notwithstanding the provisions of sub-item (1)

of this item, where a person who registers under article 10

makes a request to the Commissioner within six months

from the date of that registration or before the due date of

the first VAT return, whichever is the latest, to convert to a

registration under article 11, the Commissioner may accept

the request if he is satisfied that the person qualifies as a

small undertaking and subject to such other conditions and

limitations as may be determined at the time the request is

made.".

In the Table at the end of Part One of the Sixth Schedule:-

Amends the

Table in Part

One of the Sixth

(a)

in the First Column of row B, for the words

Schedule.

"Economic activities consisting principally in the supply of

services with a relatively low value added" there shall be

substituted the words "Other economic activities";

(b) in the Second Column of row B, for the figure

"24,000" there shall be substituted the figure "30,000";

(c) in the Third Column of row B, for the figure "19,000"

there shall be substituted the figure "24,000"; and

(d)

Row C shall be deleted.

€0.18