Value Added Tax (Rate of Interest)

L.N. 227 of 2022

VALUE ADDED TAX ACT

(CAP. 406)

Value Added Tax (Rate of Interest)

(Amendment) Regulations, 2022

IN EXERCISE of the powers conferred by articles 21(4) and 75

of the Value Added Tax Act, the Minister responsible for finance has

made the following regulations:-

(1) The title of these regulations is the Value Added Tax

commencement.

(Rate of Interest) (Amendment) Regulations, 2022 and these

regulations shall be read and construed as one with the Value Added

Tax (Rate of Interest) Regulations, hereinafter referred to as "the

principal regulations".

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

on 1 st September 2022.

In regulation 2 of the principal regulations, the words "at

the rate of zero point three, three per cent (0.33%)." shall be

substituted by the words "at the rate of zero point six per cent (0.6%):"

and immediately after there shall be added the following new proviso

"Provided that for balances of tax which became payable by

taxable persons before 1 st September 2022, interest at the rate of zero

point three, three per cent (0.33%) shall continue to apply.".

€0.09