Finance Act, 2001
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Amendment of section 5 (supply of services) of Principal Act. |
183.—Section 5 of the Principal Act is amended— | |
(a) in subsection (6)(e) by the insertion of the following after subparagraph (iii) (inserted by the Finance Act, 1986 ): | ||
“(iiia) in case they are received, otherwise than for a business purpose, by a person in the State (referred to in this subparagraph as the ‘recipient’) and are supplied by a person who has his establishment in another Member State of the Community, in circumstances in which value-added tax referred to in Council Directive No. 77/388/EEC of 17 May 1977 is not payable in that Member State because the recipient held himself out or allowed himself to be held out as a taxable person within the meaning of Article 4 of that Directive in respect of such supplies, the State,”, | ||
and | ||
(b) by the substitution of the following for subsection (8) (inserted by the Act of 1978): | ||
“(8) (a) The transfer of goodwill or other intangible assets of a business, in connection with the transfer of the business or part thereof, even if that business or that part thereof had ceased trading, by— | ||
(i) a taxable person to another taxable person or a flat-rate farmer, or | ||
(ii) a person who is not a taxable person to another person, | ||
shall be deemed, for the purposes of this Act, not to be a supply of services. | ||
(b) For the purposes of this subsection, ‘taxable person’ shall not include a person who is a taxable person solely by virtue of subsections (1A) and (2) of section 8.”. |