S.L. 406.12 Art. 1Citation and commencement.

(1) The title of these regulations is the Value Added Tax

(Adjustments relating to Input Tax on Capital Goods) Regulations.

(2) These regulations shall be deemed to have come into force on 1st May 2004, and shall apply only to input tax that was chargeable on or after the 1st of May, 2004:

Provided that where a balance of input tax was due as on 30th April, 2004 in terms of the limitation imposed by item 12 of the Eleventh Schedule to the Value Added Tax Act, prior to its amendment by Act X of 2003 which came into force on 1st May, 2004, such balance shall be refunded in four equal instalments and the provisions of article 24(3) of the Act shall not apply. The first payment may be claimed back in any tax return which ends between the 31st May, 2004 and the 31st July, 2004. Subsequent instalments may be claimed in each tax return as it falls due.