S.I. No. 277/1992:

VALUE-ADDED TAX (ESTIMATION AND ASSESSMENT OF TAX DUE) REGULATIONS, 1992.

VALUE-ADDED TAX (ESTIMATION AND ASSESSMENT OF TAX DUE) REGULATIONS, 1992.

The Revenue Commissioners, in exercise of the powers conferred on them by sections 22 , 23 and 32 of the Value-Added Tax Act, 1972 (No. 22 of 1972), hereby make the following Regulations:

1. These Regulations may be cited as the Value-Added Tax (Estimation and Assessment of Tax Due) Regulations, 1992.

2. These Regulations shall come into operation on the 1st day of January, 1993.

3. In these Regulations "the Act" means the Value-Added Tax Act, 1972 .

4. (1) An estimation of tax due for a taxable period for the purposes of section 22 of the Act may be made by an officer of the Revenue Commissiones, authorised by them in that behalf. The authorised officer shall sign a list containing the relevant particulars of the persons to whom the estimates relate and enter on the list the date of such signing and the list shall be retained by the Revenue Commissioners for a period of not less than ten years from the date of such signing.

(2) The relevant particulars are--

( a ) the name, address and registration number of each person in respect of whom an estimate or two or more estimates is or are made,

( b ) the taxable period to which each estimate relates, and

( c ) the amount of tax estimated to be payable in respect of each taxable period referred to in subparagraph (b) of this paragraph.

5. (1) An assessment of tax due or refundable for a taxable period or other period consisting of two or more taxable periods for the purposes of section 23 of the Act may be made by an inspector of taxes or such other officer as the Revenue Commissioners may authorise in that behalf. The inspector of taxes or other authorised officer shall sign a list containing the relevant particulars of the persons to whom the assessments relate and enter on the list the date of such signing and the list shall be retained by the Revenue Commissioners for a period of not less than ten years from that date of such signing.

(2) The relevant particulars are--

( a ) the name, address and registration number of each person in respect of whom an assessment or two or more assessments is or are made,

( b ) the period consisting of one taxable period or two or more consecutive taxable periods to which each assessment relates,

( c ) the total amount of tax which it is assessed should have been paid or the total amount of tax (including a nil amount) which in accordance with section 20 (1) of the Act should have been refunded, as the case may be, in respect of the taxable period or periods comprised in each period referred to in subparagraph (b) of this paragraph,

( d ) the total amount of tax (including a nil amount) paid by the person or refunded to the person, as the case may be, in respect of the taxable period or periods concerned, and

( e ) the net amount due in respect of the taxable period or periods comprised in each period referred to in subparagraph (b) of this paragraph.

6. Regulation 14 of the Value-Added Tax Regulations, 1979 ( S.I. No. 63 of 1979 ) is hereby revoked.

GIVEN this 29th day of September, 1992.

F. CASSELLS,

Revenue Commissioner.

EXPLANATORY NOTE.

These Regulations set out the manner in which estimates and assessments of tax due or refundable may be made by an officer of the Revenue Commissioners and the particulars of such estimates and assessments which must be retained by the Revenue Commissioners. They revoke and replace Regulation 14 of the Value-Added Tax Regulations 1979 ( S.I. No. 63 of 1979 ).