|
|
Amendment of section 19 (tax due and payable) of Principal Act.
|
102.— Section 19 of the Principal Act is amended by inserting the following after subsection (2A):
|
|
| |
“(2B) Where a person accounts in accordance with subsection (3) for tax referred to in subsection (2) on an amount received by way of a deposit from a customer before the supply of the goods or services to which it relates, and—
|
|
| |
(a) that supply does not subsequently take place owing to a cancellation by the customer,
|
|
| |
(b) the cancellation is recorded as such in the books and records of that person,
|
|
| |
(c) the deposit is not refunded to the customer, and
|
|
| |
(d) no other consideration, benefit or supply is provided to the customer by any person in lieu of the refund of that amount,
|
|
| |
then, the tax chargeable under section 2(1)(a) shall be reduced in the taxable period in which the cancellation is recorded by the amount of tax accounted for on the deposit.”.
|
