S.I. No. 268/1972:

VALUE-ADDED TAX (REDUCTION OF RATE) (No. 1) ORDER, 1972.

VALUE-ADDED TAX (REDUCTION OF RATE) (No. 1) ORDER, 1972.

I, SEOIRSE Ó COLLA, Minister for Finance, in exercise of the powers conferred on me by section 11 (8) of the Value-Added Tax Act, 1972 (No. 22 of 1972), hereby order as follows:

1. This Order may be cited as the Value-Added Tax (Reduction of Rate) (No. 1) Order, 1972.

2. The rate of tax chargeable in relation to the rendering of services of the kind specified in the Schedule to this Order is hereby reduced from 16·37 per cent. to 5·26 per cent.

SCHEDULE.

The hiring to a person under a contract in writing, other than a contract of a kind referred to in section 3 (1) (b) of the Act, entered into before the 24th day of October, 1972, of movable goods in the possession of the person on the 1st day of November, 1972, of a kind on the delivery of which, if paragraph (xxviii) of Part I of the Third Schedule to the Act were disregarded, tax would be chargeable at the rate of 16·37 per cent.

GIVEN under my Official Seal, this 24th day of October, 1972.

SEOIRSE Ó COLLA,

Minister for Finance.

EXPLANATORY NOTE.

If the rate of tax chargeable on the delivery of goods of any kind would be 16·37 per cent., this rate would also apply to the hire of such goods. This Order reduces the tax rate chargeable in respect of the hire of any such goods to 5·26 per cent. The reduction in rate will apply only if the goods in question were in the hands of the person to whom hired on 1 November, 1972, under a written contract which was entered into before the date of this Order.