Value Added Tax Act (Amendment of Fifth Schedule)

L.N. 345 of 2024

VALUE ADDED TAX ACT

(CAP. 406)

Value Added Tax Act (Amendment of Fifth Schedule)

(Amendment No. 3) Regulations, 2024

IN EXERCISE of the powers conferred by article 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 Citation, scope

Act (Amendment of Fifth Schedule) (Amendment No. 3) Regulations, and

commencement.

2024 and these regulations shall be read and construed as one with the

Fifth Schedule to the Value Added Tax Act, hereinafter referred to as Cap. 406.

the "Fifth Schedule".

(2) These regulations transpose the provisions of Council

Directive (EU) 2020/285 of 18 February 2020 amending Directive

2006/112/EC on the common system of value added tax as regards the

special scheme for small enterprises and Regulation (EU) No 904/2010

as regards the administrative cooperation and exchange of information

for the purpose of monitoring the correct application of the special

scheme for small enterprises.

These regulations shall come into force on 1 st January

(3)

2025.

The Fifth Schedule shall be amended as follows

Amends the

Fifth Schedule.

(a)

Part One thereof shall be amended as follows

(i) sub-paragraph (a) of paragraph (1) of item 3

thereof shall be substituted by the following new sub-

paragraph

"(a) a supply made by a person registered

under articles 11 and 11B."; and

(ii) sub-paragraph (a) of paragraph (3) of item 3

thereof shall be substituted by the following new sub-

paragraph

"(a) a supply made by a person registered

under articles 11 and 11B."; and

(b) immediately after item 15 of Part Two thereof there

shall be added the following new item

"Exemption for small enterprises

(1) The supply by a person registered under

article 11 and entitled to be so registered, of goods and

services in accordance with the provisions of Part One of

the Sixth Schedule.

(2) The supply by a person registered under

article 11A and entitled to be so registered, of goods and

services in accordance with the provisions of Part Two of

the Sixth Schedule.

(3) The supply by a person registered under

article 11B and entitled to be so registered, of goods and

services in accordance with the provisions of Part Three

of the Sixth Schedule.".

€0.18