S.I. No. 201/1996:

VALUE-ADDED TAX (SPECIAL SCHEME FOR MEANS OF TRANSPORT: DOCUMENTATION) REGULATIONS, 1996

VALUE-ADDED TAX (SPECIAL SCHEME FOR MEANS OF TRANSPORT: DOCUMENTATION) REGULATIONS, 1996

The Revenue Commissioners, in exercise of the powers conferred on them by sections 12 and 32 of the Value-Added Tax Act, 1972 (No. 22 of 1972), and with the consent of the Minister for Finance, hereby make the following Regulations:

1. These Regulations may be cited as the Value-Added Tax (Special Scheme for Means of Transport: Documentation) Regulations, 1996.

2. These Regulations shall come into operation on the 1st day of July, 1996.

3. In these Regulations --

"the Act of 1995" means the Finance Act, 1995 (No. 8 of 1995);

"taxable dealer" has the meaning assigned to it by section 12B(3) (inserted by the Act of 1995) of the Principal Act;

"means of transport" has the meaning assigned to it by section 12B(3) (inserted by the Act of 1995) of the Principal Act;

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

"residual tax" has the meaning assigned to it by section 12B(4) (inserted by the Act of 1995) of the Principal Act.

4. (1) A taxable dealer shall deduct residual tax in accordance with section 12(1)(a)(vi) of the Principal Act in respect of the acquisition or purchase of a means of transport from a person specified in paragraph (a) or (b) of subsection (2) of section 12B of that Act, subject to the following conditions:

(a) that the dealer prepares a document which sets out all the particulars specified in paragraph (2) of this Regulation, in respect of the transaction in question,

(b) that the document referred to at subparagraph (a) of this paragraph is signed and dated by the person who is supplying the means of transport concerned, acknowledging the accuracy of the details therein and declaring that that person is a person of the type referred to in either paragraph (a) or (b) of subsection (2) of section 12B of the Principal Act, and

(c) that the dealer gives to the person who is supplying the means of transport concerned a copy of the completed document referred to at subparagraphs (a) and (b) of this paragraph within 15 days of the date of the acquisition or purchase of that means of transport.

(2) The particulars in respect of the means of transport concerned which are to be included in the document referred to in paragraph (1) of this Regulation are as follows:

(a) the name and address of the person who is supplying that means of transport;

(b) the name and address of the taxable dealer who is purchasing or acquiring that means of transport;

(c) the date upon which the supply of that means of transport takes place;

(d) a description of that means of transport, including details of the make, model, engine number, registration number and year of manufacture; and

(e) the total consideration for the supply of that means of transport.

5. A taxable dealer shall deduct residual tax in accordance with section 12(1)(a)(vi) of the Principal Act in respect of the acquisition or purchase of a means of transport from a person specified in paragraph (c) of subsection (2) of section 12B of that Act, subject to the condition that such dealer shall be in possession of an invoice issued by that person in accordance with the provisions of sections 12B(5) and 17(1) of that Act.

6. A taxable dealer shall deduct residual tax in accordance with section 12(1)(a)(vi) of the Principal Act in respect of the acquisition or purchase of a means of transport from a person specified in paragraph (d) of subsection (2) of section 12B of that Act, subject to the condition that such dealer shall be in possession of an invoice issued by that person which indicates that the supply by that person was subject to value-added tax in accordance with the provisions implementing Article 26a or 28o of Council Directive 77/388/EEC of 17 May 1977* in the Member State in which the supply took place.

* O.J. No. L145, 13 June 1977, p. 1.

7. An invoice issued in accordance with the provisions of sections 12B(5) and 17(1) of the Principal Act shall show the following endorsement:

"Special Scheme - this invoice does not give the right to an input credit of VAT".

8. A taxable dealer shall keep full and true records, entered up to date, of the acquisition and disposal of a means of transport, in respect of which that dealer has deducted residual tax in accordance with section 12(1)(a)(vi) of the Principal Act, together with appropriate cross-references between all such records.

9. The Value-Added Tax (Second-hand Motor Vehicles) Regulations 1988 ( S.I. No. 121 of 1988 ) are hereby revoked.

GIVEN under my hand, this 27th day of June  , 1996.

D.B. QUIGLEY,

Revenue Commissioner.

The Minister for Finance hereby consents to the making of the foregoing Regulations.

GIVEN under the Official Seal of the Minister

for Finance, this 27th day of June, 1996.

Ruairi Quinn

Minister for Finance.

Explanatory Note

These Regulations specify the documentation required by a taxable dealer to deduct residual tax in respect of certain means of transport. They revoke and replace S.I. No. 121 of 1988 .