S.I. No. 294/1996:

VALUE-ADDED TAX (RETURNS) REGULATIONS, 1996

VALUE-ADDED TAX (RETURNS) REGULATIONS, 1996

The Revenue Commissioners, in exercise of the powers conferred on them by sections 19 and 32 of the Value-Added Tax Act, 1972 (No. 22 of 1972), hereby make the following Regulations:

1. (1) These Regulations may be cited as the Value-Added Tax (Returns) Regulations, 1996.

(2) These Regulations shall be deemed to have come into operation on the 1st day of September, 1996.

2. In these Regulations "the Act" means the Value-Added Tax Act, 1972 (No. 22 of 1972).

3. A taxable person who is required in accordance with section 19 (3) (a) of the Act to furnish a return shall complete such form as is issued to the person for that purpose by the Collector-General in respect of the taxable period concerned and he or she shall sign a declaration on the form to the effect that the particulars shown thereon are correct:

Provided that where the form aforesaid provides for the inclusion of supplementary trading details in respect of any period, those details shall be deemed to be part of such a return as aforesaid in respect of the taxable period concerned.

4. A taxable person who is required in accordance with section 19 (3) (aa) of the Act to furnish a return shall complete such form as is issued to the person for that purpose by the Collector-General and he or she shall sign a declaration on the form to the effect that the particulars shown thereon are correct.

5. The Value-Added Tax (Returns) Regulations, 1993 ( S.I. No. 247 of 1993 ), are hereby revoked.

GIVEN this 8th day of October, 1996.

D. B. QUIGLEY

Revenue Commissioner.

EXPLANATORY NOTE

These Regulations require a taxable person to supply the details requested on the VAT return issued to him or her under section 19(3) of the Act. Recent changes in VAT primary law permit traders who account annually for VAT to align the period covered by their annual VAT return with their annual commercial accounting period. For these traders this annual return covers both the tax payment and the associated trading details for the period. Traders who account for their VAT bi-monthly must also make an annual return of trading details and the Regulations have the effect of extending the same flexibility as regards this annual return to these traders. The Regulations also revoke and replace the Value-Added Tax (Returns) Regulations, 1993 ( S.I. No. 247 of 1993 ).