Schedule) Regulations, 2024

L.N. 349 of 2024

VALUE ADDED TAX ACT

(CAP. 406)

Value Added Tax Act (Amendment of Thirteenth

Schedule) 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 Thirteenth Schedule) Regulations, 2024 and these and

commencement.

regulations shall be read and construed as one with the Thirteenth

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

"Thirteenth Schedule".

(2)

The scope of these regulations is to

(a) 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; and

(b) introduce technical improvements to the existing

provisions contained in the Thirteenth Schedule.

These regulations shall come into force on 1 st January

(3)

2025.

Item 2 of the Thirteenth Schedule shall be substituted by Amends the

Thirteenth

the following new item

Schedule.

"Obligation to issue receipt

2. Subject to the other provisions of this

Schedule, every person who makes a supply shall, except

where he is required to issue a tax invoice in respect of

such supply, issue a fiscal receipt in accordance with this

Schedule for the consideration paid to him for that supply

and such fiscal receipt shall, unless issued before the

payment is made, be issued and delivered to the person

who effects the payment or to the person to whom the

supply is made immediately after payment has been

effected, to the extent covered by such payment

Provided that in respect of a supply for which

no consideration is paid but which is deemed to have been

made for a consideration in accordance with the Second

Schedule, the fiscal receipt shall be issued on the date of

that supply

Provided further that the provisions of this

item shall not apply to supplies which are exempt without

credit in accordance with Part Two of the Fifth Schedule

other than supplies referred to under item 16(1) of Part

Two of the said Schedule.".

€0.18