Finance Act, 1983

Amendment of section 19 (tax due and payable) of Principal Act.

84.—Section 19 of the Principal Act is hereby amended by the substitution of the following subsection for subsection (3):

“(3) (a) Subject to paragraph (b), a taxable person shall, within 9 days immediately after the tenth day of the month immediately following a taxable period, furnish to the Collector-General a true and correct return prepared in accordance with regulations of the amount of tax which became due by him during the taxable period, not being tax already paid by him in relation to goods imported by him, and the amount, if any, which may be deducted in accordance with section 12 in computing the amount of tax payable by him in respect of such taxable period and such other particulars as may be specified in regulations, and shall at the same time remit to the Collector-General the amount of tax, if any, payable by him in respect of such taxable period.

(b) A person who disposes of goods which pursuant to section 3 (7) are deemed to be supplied by a taxable person in the course or furtherance of his business—

(i) shall within 9 days immediately after the tenth day of the month immediately following a taxable period furnish to the Collector-General a true and correct return, prepared in accordance with regulations, of the amount of tax which became due by such taxable person in relation to the disposal, and such other particulars as may be specified in regulations, and shall at the same time remit to the Collector-General the amount of tax payable in respect of the taxable period in question,

(ii) shall send to the person whose goods were disposed of a statement containing such particulars as may be specified in regulations, and

(iii) shall treat the said amount of tax as a necessary disbursement out of the proceeds of the disposal.

(c) The owner of goods which pursuant to section 3 (7) are deemed to be supplied by a taxable person in the course or furtherance of his business shall exclude from any return, which he is or, but for this subparagraph, would be, required to furnish under this Act, the tax payable in accordance with paragraph (b).”.