Finance Act 2010
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Supply of greenhouse gas emission allowances. |
133.— (1) The Principal Act is amended— | |
(a) in section 8 by inserting the following after subsection (1C): | ||
“(1D) (a) Where a taxable person who carries on a business in the State (in this subsection referred to as a ‘recipient’) receives greenhouse gas emission allowances from another taxable person who carries on a business in the State then the recipient shall, in relation to that supply, be an accountable person or be deemed to be an accountable person and shall be liable to pay the tax chargeable as if that recipient made that supply in the course or furtherance of business and the person who supplied the greenhouse gas emission allowances shall not be accountable for or liable to pay the said tax in respect of such supply. | ||
(b) In this subsection— | ||
‘ allowance ’ has the meaning assigned to it by Article 3 of the Directive; | ||
‘Directive’ me ans Directive 2003/87/EC 25 of the European Parliament and of the Council of 13 October 2003 (as amended) establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC; | ||
‘greenhouse gas’ has the meaning assigned to it by Article 3 of the Directive; | ||
‘ greenhouse gas emission allowances ’ means allowances to emit greenhouse gases transferable in accordance with the Directive and other units that may be used by operators for compliance with the Directive; | ||
‘operator’ has the meaning assigned to it by Article 3 of the Directive.”, | ||
(b) in section 12(1)(a) by inserting the following after subparagraph (vc): | ||
“(vd) the tax chargeable during the period, being tax for which the recipient (within the meaning of section 8(1D)) is liable by virtue of section 8(1D) in respect of greenhouse gas emission allowances (within the said meaning) received by that recipient: but this subparagraph shall apply only where the recipient would be entitled to a deduction of that tax elsewhere under this subsection if that tax had been chargedto such recipient by an accountable person,”, | ||
and | ||
(c) in section 17 by inserting the following after subsection (1D) (inserted by section 127 ): | ||
“(1E) Where a taxable person who carries on a business in the State supplies greenhouse gas emission allowances (within the meaning of section 8(1D)) to a recipient (within the said meaning), that person shall issue a document to the recipient indicating— | ||
(a) that the recipient is liable to account for the tax chargeable on that supply, and | ||
(b) such other particulars as would be required to be included in that document if that document was an invoice required to be issued in accordance with subsection (1) but excluding the amount of tax payable.”. | ||
(2) Subsection (1) comes into operation on such day as the Minister for Finance may appoint by order. | ||