S.I. No. 488/1998:

VALUE-ADDED TAX (ELECTRONIC DATA EXCHANGE AND STORAGE) (AMENDMENT) REGULATIONS, 1998

VALUE-ADDED TAX (ELECTRONIC DATA EXCHANGE AND STORAGE) (AMENDMENT) REGULATIONS, 1998

The Revenue Commissioners, in exercise of the powers conferred on them by sections 17 and 32 of the Value-Added Tax Act, 1972 (No. 22 of 1972), hereby make the following regulations:

1. (1) These Regulations may be cited as the Value-Added Tax (Electronic Data Exchange and Storage) (Amendment) Regulations, 1998.

(2) These Regulations shall come into operation on the 1st day of January, 1999.

2. The Value-Added Tax (Electronic Data Exchange and Storage) Regulations, 1992 ( S.I. No. 269 of 1992 ), are hereby amended by the insertion of the following Regulation after Regulation 2:

"2A. Where an amount or consideration is specified for the purposes of these Regulations, then such amount or consideration shall be expressed in a denomination of the currency of the State and be identified by the use of the symbol appropriate to the denomination so expressed.".

GIVEN this 18th day of December, 1998

Josephine Feehily

Revenue Commissioner

EXPLANATORY NOTE

These Regulations amend the Value-Added Tax (Electronic Data Exchange and Storage) Regulations, 1992, to provide that amounts or considerations specified in VAT invoices and other documents must be expressed in a denomination of the State's currency and the appropriate symbol must be used to identify which denomination is being used. The Regulations do not prevent a person showing the amount or consideration in both denominations, if desired, provided the appropriate symbols are included.