STATUTORY INSTRUMENTS.

S.I. No. 443 of 1999.

VALUE-ADDED TAX (AGRICULTURAL MACHINERY) (DOCUMENTATION) REGULATIONS, 1999.

S.I. No. 443 of 1999.

VALUE-ADDED TAX (AGRICULTURAL MACHINERY) (DOCUMENTATION) REGULATIONS, 1999.

The Revenue Commissioners, in exercise of the powers conferred on them by section 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 (Agricultural Machinery) (Documentation) Regulations, 1999.

(2) These Regulations shall come into operation on the 1st day of March, 2000.

2. In these Regulations--

“the Principal Act” means the Value-Added Tax Act, 1972 (No. 22 of 1972) ;

“the Act of 1999” means the Finance Act, 1999 (No. 2 of 1999) ;

“agricultural machinery” has the meaning assigned to it by section 12C (inserted by the Act of 1999) of the Principal Act;

“flat-rate farmer” has the meaning assigned to it by section 12A as amended (inserted by section 11 of the Value-Added Tax (Amendment) Act, 1978 ( No. 34 of 1978 )) of the Principal Act;

“taxable dealer” has the meaning assigned to it by the said section 12C.

3. Each invoice issued by a flat-rate farmer in accordance with section 17(2A) (inserted by the Act of 1999) of the Principal Act shall be signed by him and shall include the following, that is to say:

(a) his name and address;

(b) the name and address of the taxable dealer to whom the agricultural machinery was supplied and the registration number assigned to him under subsection (1A) (inserted by section 171 of the Finance Act, 1992 ( No. 9 of 1992 )) of section 9 of the Principal Act;

(c) the date on which the supply of the agricultural machinery took place;

(d) the date of issue of the invoice;

(e) a description of the agricultural machinery, including details of the make, model and, where appropriate, the year of manufacture, the engine number and registration number thereof;

(f) the consideration for the supply of the agricultural machinery, and

(g) a declaration that the agricultural machinery was used by him for the purposes of his farming activities.

4. (1) Each invoice issued by a flat-rate farmer in accordance with section 17(2A) (inserted by the Act of 1999) of the Principal Act shall be issued within the period of fifteen days immediately following the month in which the agricultural machinery was supplied.

(2) A flat-rate farmer shall keep copies of all invoices to which paragraph (1) applies.

5. A taxable dealer shall keep--

(a) a full and proper record of all acquisitions and disposals of agricultural machinery by him, the entries in relation to which shall be made at the time of any such acquisition or disposal, or as soon as may be thereafter, and

(b) all invoices received in respect of agricultural machinery acquired by him and copies of all invoices in respect of agricultural machinery disposed of by him.

EXPLANATORY NOTE.

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These Regulations give the details which must be included on invoices issued (under section 17 (2A) of the VAT Act) by flat-rate farmers in respect of supplies of agricultural machinery made by them to taxable dealers.