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S.I. No. 269/1963 - Turnover Tax (No. 3) Regulations, 1963.

S.I. No. 269 of 1963.

TURNOVER TAX (NO. 3) REGULATIONS, 1963.

The Revenue Commissioners, in exercise of the powers conferred on them by section 52 of the Finance Act, 1963 , (No. 23 of 1963), hereby make the following Regulations:

1.—(1) These Regulations may be cited as the Turnover Tax (No. 3) Regulations, 1963.

(2) These Regulations shall come into operation on the 1st day of January, 1964.

2.—(1) The limitation set out in the next paragraph of this Regulation is hereby specified for the purposes of section 48 of and the First Schedule to the Finance Act, 1963 .

(2) Sales of hydrocarbon oils sold as burner fuel shall not be exempted activities.

GIVEN this 30th day of December, 1963.

J. C. DUIGNAN,

Revenue Commissioner.

EXPLANATORY NOTE.

These Regulations which come into force on 1st January, 1964, are supplementary to the Turnover Tax Regulations, 1963 ( S.I. No. 157 of 1963 ) which came into operation on 19th August, 1963, and to the Turnover Tax (No. 2) Regulations, 1963 ( S.I. No. 201 of 1963 ) which came into operation on 1st November, 1963.

In accordance with the provisions of the First Schedule to the Finance Act, 1963 , limitations may be prescribed by regulation in regard to certain exemptions specified in the Schedule. One of these exemptions relates to sales of hydrocarbon oils. The present Regulations, which should be read in conjunction with the Schedule, provide a limitation in regard to sales of hydrocarbon oils for use as burner fuel i.e. for heating purposes.

In the absence of this limitation sales of burner oil for non-domestic heating purposes would be wholly exempt even when sold to unregistered persons such as banks, insurance companies and institutions. No corresponding exemption exists in regard to sales of solid fuel and the effect of these Regulations is to put sales of burner oil on the same footing as sales of solid fuel. Accordingly as from the 1st January, 1964, sales of hydrocarbon oil sold as burner fuel will be free of tax only when made to registered persons for the purposes of their business.