Finance Act, 2001
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Amendment of section 17 (invoices) of Principal Act. |
193.—Section 17 of the Principal Act is amended— | |
(a) by the substitution of the following for subsection (1A) (inserted by the Finance Act, 1986 ): | ||
“(1A) (a) An invoice or other document required to be issued by a person under this section shall, subject to paragraph (b), be deemed to be so issued by that person if the particulars which are required by regulations to be contained in such invoice or other document are recorded, retained and transmitted electronically by a system or systems which ensures the integrity of those particulars and the authenticity of their origin, without the issue of any invoice are other document containing those particulars. | ||
(b) An invoice of other document required to be issued under this section shall not be deemed by paragraph (a) to be so issued unless the person, who is required to issue such invoice or other document, complies with such conditions as are specified by regulations and the system or systems used by that person conforms with such specifications as are required by regulations. | ||
(c) The person who receives a transmission referred to in paragraph (a) shall not be deemed to be issued with an invoice or other document required to be issued under this section unless the particulars which are required by regulations to be contained in such invoice or other document are received electronically in a system which ensures the integrity of those particulars and the authenticity of their origin and unless the system conforms with such specifications as are required by regulations and that person complies with such conditions as are specified by regulations.”, | ||
(b) by the insertion of the following after subsection (1AA) (inserted by the Finance Act, 1996 ): | ||
“(1AAA) Where a person, referred to in this subsection as the ‘owner’, supplies financial services of the kind specified in subparagraph (i)(e) of the First Schedule in respect of goods which are supplied within the meaning of section (3)(1)(b), being goods which are handed over from a person in another Member State to a taxable person acting as such in the State, referred to in this subsection as the ‘acquirer’, then the owner shall issue a document to the acquirer and shall indicate thereon— | ||
(a) that the acquirer is liable to account for the tax, if any, due in respect of the intra-Community acquisition of those goods, and | ||
(b) such other particulars as are specified by regulations in respect of an invoice issued in accordance with subsection (1).”, | ||
and | ||
(c) by the substitution of “subsections (1AA), (1AAA)” for “subsection (1AA)” in subsection (1AB). |