MT
VALUE ADDED TAX (REMITTANCE OF INTEREST AND ADMINISTRATIVE PENALTIES TO TAXABLE PERSONS INVOLVED IN TRADING WITH LIBYA)
Table of Provisions (8)
Statutory Text (8 Articles)
VALUE ADDED TAX (REMITTANCE OF INTEREST AND
ADMINISTRATIVE PENALTIES TO TAXABLE PERSONS
INVOLVED IN TRADING WITH LIBYA)
SUBSIDIARY LEGISLATION 406.17
VALUE ADDED TAX (REMITTANCE OF INTEREST
AND ADMINISTRATIVE PENALTIES TO TAXABLE
PERSONS INVOLVED IN TRADING WITH LIBYA)
REGULATIONS *
17th June, 2011
LEGAL NOTICE 235 of 2011.
(1) The title of these regulations is the Value Added Tax
(Remittance of Interest and Administrative Penalties to Taxable
Persons involved in Trading with Libya) Regulations.
(2) These regulations shall remain in force until such time that the
Minister of Finance, the Economy and Investment, may by notice in
the Gazette determine.
(1)
In these regulations unless the context otherwise requires
"the Act" means the Value Added Tax Act;
"clearance certificate" means a document of approval issued by
the Minister of Finance, the Economy and Investment upon a
recommendation by Malta Enterprise;
"eligible taxable person" means a person registered under article
10 of the Act who is eligible for remittance under these regulations.
(2) Other terms and expressions used in these regulations shall
have the meaning assigned to them in the Act.
These regulations shall only apply to an eligible taxable
person who furnishes to the Commissioner a clearance certificate,
provided that the conditions under regulation 4 are fulfilled.
The Commissioner shall remit interest and administrative
penalties due by an eligible taxable person in a tax period where
(a) a tax return for that tax period falls due on the 15th
May 2011 or on the fifteenth day of the subsequent
month in the months that follow;
(b) the tax return referred to in paragraph (a) is furnished
to the Commissioner by its due date; and
(c) the tax payable as declared in the tax return referred to
in paragraph (a) is paid in full within four months of
the due date of the said return.
*Revoked bt Legal Notice 103 of 2013 as from 16th February, 2013. But see proviso
to regulation 1(2) thereof, reproduced hereunder
"Provided that any interest and administrative penalties due for any tax payable by the
15th of February 2013 shall continue to be remitted until the 15th of June 2013, subject
to the terms and conditions of the Value Added Tax (Remittance of Interest and
Administrative Penalties to Taxable Persons involved in Trading with Libya)
Regulations.".
VALUE ADDED TAX (REMITTANCE OF INTEREST AND
ADMINISTRATIVE PENALTIES TO TAXABLE PERSONS
INVOLVED IN TRADING WITH LIBYA)
The Commissioner may impose further conditions and may
request further documents that he may deem necessary to ensure
correct application of these regulations.
Nothing in these regulations shall entitle an eligible
taxable person to claim a refund of any amount whatsoever in
respect of interest or administrative penalties already paid, which
interest and administrative penalties would have otherwise been
remitted under these regulations if they were not already paid.
Where an eligible taxable person has benefitted from a
remittance of interest under these regulations, the Commissioner
shall have the right to withhold an amount of interest up to but not
exceeding the amount of interest remitted when interest is due to
that eligible taxable person in terms of article 24(3) of the Act
within six years from the date the remittance of interest under these
regulations had taken place.