Value Added Tax Act
Value Added Tax (Deferred Payment) Regulations, 2014
Statutory Instrument 117 of 2014
- Commenced on 1 January 2015
- [This is the version of this document at 8 November 2017.]
1. CitationThese regulations may be cited as the Value Added Tax (Deferred Payment) Regulations, 2014.
2. Authorisation for deferred paymentSubject to regulation 3, the Revenue Commissioner may authorise deferred payment on importation of goods specified under regulation 7.
3. Conditions for applicationThe Revenue Commissioner may authorise deferred payment if the applicant satisfies the following conditions—
4. Application for deferred paymentAn application for deferred payment shall be made by a taxable person on the form and in the manner set out in the schedule.
5. Separate applicationThere shall be a separate application for each deferred payment.
6. Deferred payment authorised after entry of goodsThe Revenue Commissioner may authorise for deferred payment after the entry of the goods if he or she is satisfied that the applicant had sufficient reasons, having regards to the circumstances, for not applying for deferred payment as provided under regulation 3(c).
7. Eligibility of good for deferred paymentDeferred payment facility applies to goods (excluding trading stock)—
8. Letter of authorisationWhere the taxable person's application is approved, the Revenue Commissioner shall provide the applicant with a formal letter of authorisation.
9. Output and input taxA taxable person shall set out on the VAT return following the approval of the deferred payment the VAT due on imported goods both as an output and input tax.
10. Repeal of S.I. 33 of 2013The Value Added Tax (Deferred Payment Regulations, 2013 is hereby repealed.
History of this document
01 January 2015