L.S. 406.17 Regolamenti dwar it-Taxxa fuq il-Valur Miżjud (Tħassir ta' Mgħax u Penali Amministrattiva lill-Persuni Taxxabbli nvoluti f’Negozju mal-Lib

(1)The title of these regulations is the Value Added Tax (Remittance of Interest and Administrative Penalties to Taxable Persons involved in Trading with Libya) Regulations. Citation and applicability.

(2)These regulations shall remain in force until such time that the Minister of Finance, the Economy and Investment, may by notice in the Gazette determine. 2.

(1)In these regulations unless the context otherwise requires: "the Act" means the Value Added Tax Act; Interpretation. Cap. 406. "clearance certificate" means a document of approval issued by the Minister of Finance, the Economy and Investment upon a recommendation by Malta Enterprise; "eligible taxable person" means a person registered under article 10 of the Act who is eligible for remittance under these regulations.

(2)Other terms and expressions used in these regulations shall have the meaning assigned to them in the Act. 3. These regulations shall only apply to an eligible taxable person who furnishes to the Commissioner a clearance certificate, provided that the conditions under regulation 4 are fulfilled. Applicability. 4. The Commissioner shall remit interest and administrative penalties due by an eligible taxable person in a tax period where: Conditions. (

1. a)a tax return for that tax period falls due on the 15th May 2011 or on the fifteenth day of the subsequent month in the months that follow; (
2. b)the tax return referred to in paragraph (
3. a)is furnished to the Commissioner by its due date; and (
4. c)the tax payable as declared in the tax return referred to in paragraph (
5. a)is paid in full within four months of the due date of the said return. *Revoked bt Legal Notice 103 of 2013 as from 16th February, 2013. But see proviso to regulation 1

(2)thereof, reproduced hereunder: "Provided that any interest and administrative penalties due for any tax payable by the 15th of February 2013 shall continue to be remitted until the 15th of June 2013, subject to the terms and conditions of the Value Added Tax (Remittance of Interest and Administrative Penalties to Taxable Persons involved in Trading with Libya) Regulations.". 2 [ S.L.406.17 VALUE ADDED TAX (REMITTANCE OF INTEREST AND ADMINISTRATIVE PENALTIES TO TAXABLE PERSONS INVOLVED IN TRADING WITH LIBYA) Commissioner may impose further conditions.

1. The Commissioner may impose further conditions and may request further documents that he may deem necessary to ensure correct application of these regulations. Refund.
2. Nothing in these regulations shall entitle an eligible taxable person to claim a refund of any amount whatsoever in respect of interest or administrative penalties already paid, which interest and administrative penalties would have otherwise been remitted under these regulations if they were not already paid. Withholding of interest payable.
3. Where an eligible taxable person has benefitted from a remittance of interest under these regulations, the Commissioner shall have the right to withhold an amount of interest up to but not exceeding the amount of interest remitted when interest is due to that eligible taxable person in terms of article 24

(3)of the Act within six years from the date the remittance of interest under these regulations had taken place.