Finance Act, 1995

Amendment of section 12 (deductions for tax borne or paid) of Principal Act.

129.—Section 12 of the Principal Act is hereby amended—

(a) in paragraph (a) of subsection (1) by the substitution of the following subparagraph for subparagraph (vi):

“(vi) subject to and in accordance with regulations (if any), residual tax referred to in section 12B,”,


(b) by the insertion of the following subsection after subsection (3):

“(3A) Notwithstanding anything in this section, where—

(a) the provisions of subsection (3) or (8) of section 10A or subsection (3) of section 10B have been applied to a supply of goods to a taxable person, or

(b) a taxable dealer deducts residual tax, in accordance with subsection (1) (a) (vi), in respect of a supply of a means of transport to a taxable person,

that taxable person shall not deduct, in accordance with subsection (1), any tax in relation to the supply to that person.”.