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Maltese Laws |
VALUE ADDED TAX ACT (CAP. 406)Value Added Tax Act (Amendment of Second Schedule) Regulations, 2011
Citation.
Cap. 406. Amends item 16
of the Schedule.
IN exercise of the powers conferred by articles 6 and 75 of the Value Added Tax Act, the Minister of Finance, the Economy and Investment has made the following regulations:-
1. The title of these regulations is the Value Added Tax Act (Amendment of Second Schedule) Regulations, 2011, and these regulations shall be read and construed as one with the Second Schedule to the Value Added Tax Act, which Second Schedule is hereinafter in these regulations referred to as "the Schedule".2. Item 16 of the Schedule shall be amended as follows:(a) the present provision shall be re-numbered as paragraph (1) thereof; and
(b) immediately after paragraph (1), as re-numbered, thereof there shall be added the following new paragraph:
"(2) Subject to approval by the Commissioner, the provisions of paragraph (1) shall also apply where the transferee is not registered
under article 10, provided that the transferor did not qualify for a credit of the input tax attributable to the acquisition and
the accumulation of the assets being transferred.".
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URL: http://www.worldlii.org/mt/legis/laws/vata406vataossr201161o2011676