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VALUE ADDED TAX ACT (CHAPTER 23:12)

VALUE ADDED TAX ACT

Acts 12/2002, 10/2003 (ss. 29-39), 18/2003 (ss. 10-11), 29/2004 (ss. 22-28), 2/2005 (ss. 21-27),

6/2006 (ss. 14-16), 12/2006, 16/2007 (s 19), 3/2009 ( ss. 27-29), 5/2009 (ss 11),10/2009 (ss 23-28)

ARRANGEMENT OF SECTIONS PART I

PRELIMINARY Section

  1. Short title and date of commencement.
  2. Determination of “open market value”.

PART II

ADMINISTRATION

  1. Act to be administered by Commissioner.
  2. Delegation of functions by Commissioner.

PART III

VALUE-ADDED TAX

  1. Value-added tax.
  2. Certain supplies of goods or services deemed to be made or not made.
  3. Time of supply.
  4. Value of supply of goods or services.
  5. Zero rating.
  6. Exempt supplies.
  7. Collection of tax on importation of goods, determination of value thereof and exemptions from tax. 12A. Deferment of collection of tax on capital goods.

12B. Collection of tax on exportation of unbeneficiated chrome, determination of value thereof.

  1. Collection of tax on imported services, determination of value thereof and exemptions from tax.
  2. Accounting basis.
  3. Calculation of tax payable.
  4. Permissible deductions in respect of input tax.
  5. Adjustments in consequence of acquisition of going concern wholly or partly for purposes other than making taxable supplies.
  6. Goods or services acquired before incorporation.
  7. Tax invoices.
  8. Credit and debit notes.
  9. Irrecoverable debts.

PART IV

REGISTRATION

  1. Registration of persons making supplies in the course of trades.
  2. Cancellation of registration.
  3. Registered operator to notify change of status.
  4. Liabilities not affected by person ceasing to be registered operator.

PART V

RETURNS, PAYMENTS AND ASSESSMENTS

  1. Tax period.
  2. Returns and payments of tax.
  3. Special returns.
  4. Other returns.

PART VI

OBJECTIONS AND APPEALS

  1. Objections to certain decisions or assessments.
  2. Appeals to Fiscal Appeal Court.
  3. Appeals against decisions of Fiscal Appeal Court.
  4. Members of Fiscal Appeal Court not disqualified from adjudicating.
  5. Payment of tax pending appeal.
  6. Burden of proof.

PART VII

PAYMENT, RECOVERY AND REFUND OF TAX

  1. Manner in which tax shall be paid.
  2. Penalty and interest for failure to pay tax when due.
  3. Recovery of tax.
  4. Liability for tax in respect of certain past supplies or importations.
  5. Evidence as to assessments.
  6. Security for tax.
  7. Interest on delayed refunds.

45A. Refunds of tax to exempted persons.

  1. Calculation of interest payable under this Act.

PART VIII

REPRESENTATIVE REGISTERED OPERATORS

  1. Persons acting in a representative capacity.
  2. Power to appoint agent.
  3. Liability of representative registered operators.
  4. Remedies of Commissioner against agent or trustee.

PART IX

SPECIAL PROVISIONS

  1. [Repealed]
  2. Separate persons carrying on same trade under certain circumstances deemed to be single person.
  3. Bodies of persons, corporate or unincorporated, other than companies.
  4. Pooling arrangements.
  5. Death or insolvency of registered operator.
  6. Agents and auctioneers.

PART IXA

SPECIAL PROVISIONS APPLICABLE TO SALES OF MOTOR VEHICLES

[Part IXA repealed]

56A. - 56B [Repealed]

PART X

COMPLIANCE

  1. General provisions with regard to information, documents or items.
  2. Furnishing of information, documents or items by any person.
  3. Obtaining of information, documents or items at certain premises.
  4. Powers of entry, search, etc.
  5. Offences and penalties in regard to tax evasion.
  6. Offences: increased penalty on subsequent conviction.
  7. Imposition of fine by Commissioner.
  8. Additional tax in case of evasion.
  9. Recovery of tax from recipient.
  10. Reporting of unprofessional conduct.

PART XA

APPLICATION OF INFORMATION TECHNOLOGY TO ACT

68A. Interpretation in Part XA.

68B. Use of electronic data generally as evidence.

68C. Establishment of computer systems for tax purposes.

68D. User agreements.

68E. Registration of registered users and suspension or cancellation of registration.

68F.     Digital signatures.

68G. Production and retention of documents.

68H. Sending and receipt of electronic communications.

68I. Obligations, indemnities and presumptions with respect to digital signatures.

68J. Alternatives to electronic communication in certain cases. 68K. Unlawful uses of computer systems.

PART XI

MISCELLANEOUS

  1. Prices deemed to include tax.
  2. Prices advertised or quoted to include tax.
  3. Rounding-off tables.
  4. Contract price or consideration may be varied according to rate of tax.
  5. Application of increased or reduced tax rate.
  6. Tax relief allowable to certain diplomats and diplomatic and consular missions.
  7. Forms and authentication and service of documents.
  8. Arrangements and directions to overcome difficulties, anomalies or incongruities.
  9. Schemes for obtaining undue tax benefits.

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