S.I. No. 230/1992:

VALUE-ADDED TAX (MONTHLY CONTROL STATEMENT) REGULATIONS, 1992.

VALUE-ADDED TAX (MONTHLY CONTROL STATEMENT) REGULATIONS, 1992.

The Revenue Commissioners, in exercise of the powers conferred on them by sections 17 and 32 of the Value-Added Tax Act, 1972 (No. 22 of 1972), hereby make the following Regulations:

1. These Regulations may be cited as the Value-Added Tax (Monthly Control Statement) Regulations, 1992.

2. These Regulations shall come into operation on the 1st day of November, 1992.

3. In these Regulations--

"the Act" means the Value-Added Tax Act, 1972 ;

"monthly control statement" means the monthly control statement which is required to be issued in accordance with section 17 (1B) of the Act.

4. Every monthly control statement issued by a taxable person shall set out the following particulars:

( a ) the name, address and registration number of the person by whom the goods referred to in the statement were supplied,

( b ) the name and address of the person to whom the goods referred to in the statement were supplied,

( c ) the date of issue of the statement,

( d ) the calendar month to which the statement refers,

( e ) in relation to supplies of goods for which an invoice, credit note, debit note or settlement voucher was issued in accordance with section 17 of the Act, the total amount of the consideration inclusive of tax shown on each of those documents,

(f) in relation to supplies of goods for which an invoice, credit note, debit note or settlement voucher was not issued,

(i) the date of each such supply,

(ii) a description of the goods supplied,

(iii) the consideration, exclusive of tax, for each supply,

(iv) the rate or rates of tax and amount of tax at each rate chargeable to the person who has supplied the goods,

( g ) in relation to any adjustment of the consideration for the supplies referred to in paragraph (e) or (f) agreed between the supplier of the goods and the taxable person and for which a credit note was not issued under section 17 of the Act,

(i) the amount of such adjustment,

(ii) the date of such adjustment,

( h ) where, in respect of the supply referred to in paragraph (e) or (f), any payment has been or will be made by the person by whom the goods were supplied,

(i) the amount of such payment or payments,

(ii) the date or dates when such payment or payments were or will be made,

(iii) the person or persons to whom such payment or payments have been or will be made,

and

( i ) in relation to any gifts or promotional items given in connection with the supplies referred to in paragraph (e) or (f),

(i) a description of such gifts or promotional items,

(ii) the value of such gifts or promotional items,

(iii) the date of provision of such gifts or promotional items.

5. A monthly control statement required to be issued in accordance with section 17 (1B) of the Act shall be issued not later than the last day of the month following the month during which goods are supplied.

6. Every person issuing a monthly control statement shall keep a copy thereof and references in these regulations to any such statement, other than references to its issue, shall include references to a copy thereof.

GIVEN this 13th day of August, 1992.

F. CASSELLS,

Revenue Commissioner.

EXPLANATORY NOTE.

These Regulations specify the details which must be included in the monthly control statement which, in accordance with section 17 (1B) of the Value-Added Tax Act, suppliers of taxable goods to other taxable persons must issue if the supplier's turnover of taxable goods exceeds £2 million per annum. The Regulations also specify the period within which the monthly control statement must be issued and provide that a copy of the statement must be retained by the supplier. The Regulations have effect from 1 November, 1992.