Value Added Tax (Refunds) Regulation, 2013

This is the latest version of this Statutory Instrument.
Jurisdiction
Seychelles
Citation
Statutory Instrument 34 of 2013
Primary work
Value Added Tax Act
Date
8 November 2017
Language
English
Type
Legislation
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Related documents
Seychelles
Value Added Tax Act

Value Added Tax (Refunds) Regulation, 2013

Statutory Instrument 34 of 2013

  • Published on 22 April 2013
  • Assented to on 18 April 2013
  • Commenced on 22 April 2013
  • [This is the version of this document at 8 November 2017.]
  1. [Amended by Value Added Tax (Refunds) (Amendment) Regulations, 2014 (Statutory Instrument 61 of 2014) on 1 September 2014]
[SI 34 of 2013; 61 of 2014]

1. Citation

This regulation may be cited as the Value Added Tax (Refunds) Regulation, 2013.[regulation 1 amended by regulation 2(b) of SI 61 of 2014 with effect from 1 September 2014]

2. Refund

A refund may be claimed, where—
(a)VAT credit has been carried forward to two consecutive VAT periods and exceeds SCR 10,000 at the end of the third VAT period by a compulsory registered taxable person;
(b)a VAT credit exceeding SCR 10,000 is reported on the quarterly return by a voluntary registered taxable person; or
(c)unless otherwise applicable, a VAT credit exceeding SCR 10,000 is reported on a monthly return by an exporter, supplier of zero-rated goods or services or investor during the commencement phase of the business activity.

3. VAT returns and payment obligations

Subject to regulation 2, a VAT refund shall be granted where a taxable person has claimed for a refund on a VAT return duly completed and has fulfilled all payment obligations.

4. Statutory period

Any VAT refund is processed within a statutory period of 30 days from the date the claim for refund is made unless the taxable person has—
(a)submitted inaccurate VAT returns;
(b)failed to respond within a reasonable period to queries;
(c)been engaged in fraudulent activity.
[regulation 4 amended by regulation 2(a) of SI 61 of 2014 with effect from 1 September 2014]

5. Definition

For the purpose of this regulation—"exporter" means where a taxable person's turnover is attributable to 85% of the export sales;"supplier of zero-rated goods or services" means where a taxable person's turnover is attributable to 85% of the zero-rated supplies excluding any export sales;"investor during the commencement phase" means a taxable person who had not collected any VAT and has incurred preliminary expenditures in relation to the commencement of the business activity.
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History of this document

08 November 2017 this version
Consolidation
01 September 2014
22 April 2013
Commenced
18 April 2013
Assented to