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Short Title, and commencement \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 PART I \par INTERPRETATION \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par 2. Interpretation \par 3. Extended meaning of term "supply" \par 4. Meaning of term "taxable activity" \par 5. Time of supply \par 6. Value of supply \par 7. Place of supply \par 8. Place where supplier operates \par 9. Application of the Act to the Crown \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 PART II \par IMPOSITION OF THE TAX}{\fs24\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 \par 10. Imposition of value added tax \par 11. Rates of tax \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 PART III \par REGISTRATION \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 12. Registration of persons making taxable supplies \par 13. Cancellation of registration \par 14. Registered person to notify change of status \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 PART IV \par RETURNS AND PAYMENTS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 \par 15. Returns \par 15A. Accounting Basis \par 15B. Tax payable or refund where change in accounting basis \par 16. Calculation of tax payable or refund due \par 17. Payment of tax \par 18. Tax invoices \par 19. Credit and debit notes \par 20. Bad debts \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 PART V \par ASSESMENT OF TAX \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid211230\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 21. Assessment of tax \par 22. Correctness of assessments \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 PART VI \par OBJECTIONS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 \par 23. Objections \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 PART VII \par RECOVERY OF TAX \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 \par 24. Additional taxes for non-compliance or evasion \par 25. Payment and recovery of tax \par 26. Distrain for unpaid tax \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 27. Priority of tax}{\fs24\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 28. Statute of limitation \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 PART VIII \par REFUNDS AND RELIEF \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid14694871\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 29. Refunds of excess credits \par 30. Interest on refunds of excess credits \par 31. Refund of tax overpaid \par 32. Relief from tax \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 PART IX \par SPECIAL CASES \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 \par 33. Groups of companies \par 34. Unincorporated bodies \par 35. Agents and auctioneers \par 36. Personal representatives, liquidators, receivers etc \par 37. Agents in the case of absentees \par 38. Goods and services acquired before incorporation \par }{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 PART X \par OFFENCES AND PENALTIES \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 \par 39. Offences \par 40. Officers and employees of corporate bodies \par 41. Proceedings \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 PART XI \par GENERAL PROVISIONS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 \par 42. Keeping of records \par 43. Agreement to defeat the intention and application of Act to be void \par 44. Liability for tax payable by company left with sufficient assets \par 45. Inspection of documents, inquiry \par 46. Limitation period \par 47. Regulations \par 47A. Tax to be included in prices \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 PART }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 XII \par }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 TRANSITIONAL}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 PROVISIONS AND REPEALS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 \par 48. Effect on supply price of 1997 introduction of tax \par 49. Effect on trading stock or stationery held of 1997 introduction of tax \par 50. Effect on turnover tax liabilities of 1997 introduction of tax \par 51. Registration of persons liable to be registered on 1 July 1997 \par 52. Supplies prior to 1 July 1997 \par 53. Repeals and savings \par 54. Consequen}{\fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 tial amendments to the Customs A}{\fs24\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 ct 1913 \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 FIRST SCHEDULE \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 \par Exempt supplies \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 SECOND SCHEDULE \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8669325\charrsid745444 Exempt importations}{\fs24\lang2057\langfe5129\langnp2057\insrsid10823550\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8669325\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid8669325\charrsid745444 THIRD SCHEDULE \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8669325\charrsid745444 \par Zero-rated supplies \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid1193838\charrsid745444 ------------------------------}{\fs24\lang2057\langfe5129\langnp2057\insrsid8669325\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8669325\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid1193838\charrsid745444 1997, No.}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid14506528 }{ \b\fs24\lang2057\langfe5129\langnp2057\insrsid1193838\charrsid745444 11}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid8669325\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8669325\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14506528 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid1193838\charrsid745444 An Act to impose value added tax and to provide for its collection}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid8669325\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8669325\charrsid745444 \par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid1193838\charrsid745444 (10 June 1997 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid1193838\charrsid745444 \par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 BE IT ENACTED }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 by the Parliament of the Cook Islands in Session assembled, and by the authority of the same, as follows: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14506528 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 . }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Short title and commencement}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) The Act may be cited as the Value Added Tax Act 1997. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15207339\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) T}{\fs24\lang2057\langfe5129\langnp2057\insrsid15207339\charrsid745444 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 is Act shall come into force on 1 July 1997. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid753019\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6517080 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid753019\charrsid745444 PART I}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 INTERPRETATION \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid753019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 2. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Interpretation}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - In this Act, unless the context otherwise requires }{\fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Agreement for hire" means an agreement for the bailment of goods for hire but does not include}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) An agreement under which property in the goods passes, or is expressly contemplated to pass, to the bailee; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) A hire purchase agreement (as defined in the Hire Purchase Act 1986): \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Approved aid project" and "approved project" means a project ent ered into with the consent of the Government of the Cook Islands: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Collector" means the Treasurer appointed under the Income Tax Act 1997: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Consideration" includes all forms of consideration but does not include an unconditional gift: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Credit note" means a document provided under section 19(3)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) of this Act: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Customs duty" means customs import duty imposed under the Customs Tariff Act 1980: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Debit note" means a document provided under section 19(3)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) of this Act: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Department" mea ns the Revenue Management Division of the Ministry of Finance and Economic Management: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Exempt supply" means a supply of goods or services in the Cook Islands which is exempt f}{ \fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 rom }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 tax under section 10(3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) and the First Schedule to this Act: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Goods" means all kinds of real or personal property, but does not include choses in action or money: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 "Import levy" means an }{\fs24\lang2057\langfe5129\langnp2057\insrsid14513377\charrsid745444 i}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 m}{\fs24\lang2057\langfe5129\langnp2057\insrsid14513377\charrsid745444 port levy im}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 posed under the Import Levy Act 1972: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Minister" means a Minister of the Crown: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Money" includes currency, promissory notes and bills of exchange of the Cook Islands or any other country; but does not include a mere collector's piece, investment article or item of numismatic interest: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Non-profit body" means a religious, charitable or other organisation which is carried on other}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 than for the purposes of profit or gain to owners or members of the body and which is prevented by its constitution from making any distribution to owners or members of the body: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Open market value", in respect of a supply of goods or services, means t he consideration in money which the supply would generally fetch if supplied in similar circumstances at that date in the Cook Islands i}{\fs24\lang2057\langfe5129\langnp2057\insrsid3221365\charrsid745444 n a supply freely offered and ma}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 de between persons who are not related (by blood, marriage or ownership), and includes any value added tax payable under this Act in respect of the supply: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Person" includes a company, an unincorporated body of persons and an instrument of the Crown: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Prescribed form" for the purposes of sections 15, 15A, 18, 19 and 51 is a form as prescrib ed from time to time by the Collector. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Registered person" means a person who is registered under Part III or who is liable to be so registered: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Registration threshold amount" means the amount applying under section 12: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Resident of the Cook Islands" means }{ \fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) A person who is resident in the Cook Islands under section 82 of the Income Tax Act 1997: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) In the case of an unincorporated body of persons, that body if it has its centre of administrative management in the Cook Islands: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Second hand goods" does not include livestock: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Services" means any thing which is not goods or money: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Supply" includes all forms of supply and the extended meanings in section 3 of this Act; and "supplies", "supplier" and "supplied" shall have corresponding meanings: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Tax file number" means any identification number that has been allocated to a person by the Collector for the purposes generally of this Act or the Income Tax Act 1997: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Tax invoice" means a document provided under section 18: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Taxable supply" means a supply of goods or services in the Cook Islands which is charged with value added tax under Part II, including where the rate of tax is 0%: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Taxpayer" means any person liable for any tax hereunder: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4210120 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Unconditional gift" means a pa yment voluntarily made to any non-profit body for the carrying on or carrying out of the purposes of that non-profi}{\fs24\lang2057\langfe5129\langnp2057\insrsid14555837\charrsid745444 t body and in respect of whi}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ch no identifiable direct valuable benefit arises or may arise in the form of a supply of goods and services to t he person making that payment, or any other person where that person and that other person are associated persons; but does not include any payment made by the Crown or an instrument of the Crown. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 3. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 Extended meaning }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 of term "sup}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid658485\charrsid745444 p}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ly}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 " - (1) If goods or ser vices acquired or produced by a registered person in the course of carrying on a taxable activity are supplied by a creditor in satisfaction of the registered person's debt, the goods or services are to be treated as if supplied by the registered person i n the course of the taxable activity. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If a payment in the nature of a grant or subsidy is made by the Crown to a person in respect of the person's taxable activity, the payment is to be treated as consideration for the supply of goods or services by th e person in the Cook Islands in the course of the person's taxable activity. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) If a person ceases to be a registered person, goods and services then forming part of the assets of a taxable activity of the person are to be treated as if supplied by the p erson in the course of the taxable activity immediately bef}{\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 re the cessation of registration. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) An indemnity payment received by a registered person under a contract of insurance will be treated as if it were consideration received for a supply of services made on the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 date of receipt in the course of }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the registered person's taxable activity, if and to the extent that }{ \fs24\lang2057\langfe5129\langnp2057\insrsid4210120\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The supply of }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 insurance was a taxable supply by }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid14555837\charrsid745444 insurer; }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The loss of the registered person was incurred in the course of the registered person's taxable activity; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) The payment is not to indemnify the registered person for loss of employment services earnings. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) If a person pays an amount of money to participate in Tattslotto or another legal game of chance, the money paid is to be treated as consideration for a supply of services by }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 person conducting }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 game of chance. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) if a person pays to a casino an amount of money - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid14555837\charrsid745444 (a) To purchase a ch}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ip or otherwise to participate in a game played in the casino; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) As commission in respect of }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14555837\charrsid745444 participation in such a game, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14555837 {\fs24\lang2057\langfe5129\langnp2057\insrsid14555837\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the money paid is to be treated as a supply of services by the casino operator. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid9125681\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) For the purposes of this Act, if}{\fs24\lang2057\langfe5129\langnp2057\insrsid14555837\charrsid745444 a supply is charged with tax i}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 n part at }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 standard rate under section 11(1) and in part at zero rate under section 11(2), each such part is to be treated as a separate supply. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid14555837\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 4. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Meanin}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4993599\charrsid745444 g}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid14555837\charrsid745444 of}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the term "taxable activity}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 " - (1) For t}{\fs24\lang2057\langfe5129\langnp2057\insrsid4993599\charrsid745444 he}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 purposes of this Act, the term "taxable activity" means any activity (person, professional, corporate or otherwise) carried on continuously or regularly and involving the supply of goods or services to any other person for a consideration. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4993599\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Without limiting subsection }{\fs24\lang2057\langfe5129\langnp2057\insrsid13700138\charrsid745444 (1)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 , the term "taxable activity" includes any activity referred to in subsection (1) carried on }{\fs24\lang2057\langfe5129\langnp2057\insrsid4993599\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4993599\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Without the intention of making a profit; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4993599\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) By }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Crown or an instrument of the Crown; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4993599\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) By an association or club. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4993599\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Notwithstanding subsections (1) and (2), the term "taxable activity" does}{\fs24\lang2057\langfe5129\langnp2057\insrsid10971023\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 not include }{\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 \endash }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Any activity}{\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 carried on by a natural person}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 essentially as private recreation or a hobby; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The provision of employment services by a natural person to an employer under a contract of employment; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) Any activity to the extent to which it involves making exempt supplies. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) Anything don e in connection with the commencement or termination of a taxable activity, including its supply as a going concern, is to be treated as if done in the course of the taxable activity. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 5. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Time of supply}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Subject to this Act and in particular the following subsections of this section, for the purposes of this Act a supply of goods or services is to be treated as taking place at the earliest of the times }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 \endash }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) A tax invoice is issued by the supplier or recipient in respect of the supply: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) A payment is received by the supplier in respect of the supply: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 The}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 supplier delivers the goods or services. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid2582994\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If a supply is treated as being made by a casino operator under section 3(6), it is to be treated as taking place at the time a casino count takes place. For }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 purposes of this section "casino count" in relation to a casino, means a count of money or money's worth paid for the right to participate in gaining in that casino. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) If a supply is treated as taking place under section 3(5) (which relat es to games of chance), the time of supply is to be treated as being the date on which the first drawing or determination of a result commences. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) If the supply is for consideration received by the supplier in the form of a coin or token inserted into a machine, the supply is to be treated as taking place at the time the coin or token is removed from the machine. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) If}{\fs24\lang2057\langfe5129\langnp2057\insrsid13397904\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Goods are supplied under an agreement for hire; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Services are supplied under an a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 greement or Act which provides fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 r periodic payments, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par th}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 e goods or services are to be treated as being supplied successively, when and to }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 extent that a payment is due or is received (whichever is earlier). \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) If goods or services are supplied progressively or periodically under an agreement or Act which provides for consideration in }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 instalments}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 by reference to the progressive or periodic supplies, the goods or services are to be treated as being supplied successively, when and to the extent that a payment is due, a payment is rese rved or a tax invoice is issued relating only to that payment (whichever is the earliest). \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) If goods or services are supplied under a hire purchase agreement (as defined in the Hire Purchase Act 1986), the time of supply is the time }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 agreement is entered into. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (8) If goods are delivered by a supplier at a time when }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 consideration f}{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 r the supply cannot f inally be determined, the supply is to be treated as taking place successively when and to the extent that a payment is due, a payment is received or a tax invoice relating only to }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the} {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 payment is issued (whichever is the earliest). \par \par 6. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Value of supply}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1 ) Subject to this section, for the purposes of this Act, the value of a supply of goods or services will be the aggregate of }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \endash }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The consideration in money for the supply, if any; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The open market value of the consideration for the supply which is not in money, if any - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 reduced by the amount of value added tax charged to the supplier in respect of the supply. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If the parties to a supply are related (by blood, marriage or ownership) and the relationship has resulted in a reduction in the cons ideration for the supply to an amount below the open market value, the consideration will be deemed to be equal to }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 open market value for the supply. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13397904\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Subsection (2) of this section will not apply to any supply to a person who is entitled under section 16(4) to a deduction for the whole of the tax charged in respect of the supply. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) If goods or services are deemed by section 3(3) to be supplied on cessation of registration, the consideration in money for the supply is to be treated as being the lesser of}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13397904\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The cost of the goods or services (inclusive of any tax charged in respect of}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the acquisition) to }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 supplier; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The open market value of the supply. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) If a supply of second-hand goods to a non-resident is not zero-rated due only to the proviso to paragraph I of the Third Schedul}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 e, the consideration in money fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 r the supply will be treated as being equal to the purchase price of the goods to the supplier. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) If a suppl y is treated as being made by a casino operator under section 3(5), the consideration in money for the supply will be equal to the amount paid to purchase or participate less any amount paid out by }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 casino as winnings. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) If a supply of services is deemed to be made un}{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 der}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 section 3(5), (which relates to games of chance), }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 consideration in money for the supply will be treated as being the portion of the amount paid to participate as is equal to }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 portion of }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 total proceeds of the game which is left after deducting all amounts paid out as prizes. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (8) If a right to receive goods or services for a monetary value stated on a token, stamp (not being a postage stamp) or voucher is granted for consideration in money, the supply will be disregarded except to the extent (if any) that }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 consideration exceeds the monetary value. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (9) If a taxable supply is not the only matter to which a consideration relates, the supply will be treated as being for such consideration as is properly attributed to the taxab le supply. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (10) Subject to the preceding subsections of this section, if a supply is made f}{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 o}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 r no consideration, the value of the supply is nil. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 7. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Place of supply}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) The provisions of this section apply to determine the place of supply of goods or services for the purposes of this Act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If a supply of goods does not involve the removal of the goods from or to the Cook Islands, - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The goods will be treated as being supplied in the Cook Islands if the goods are physically in the Cook Islands at the time of supply; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The goods will be treated as being supplied outside the Cook Islands in any other case. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) If a supply of goods does involve the removal of the goods }{\fs24\lang2057\langfe5129\langnp2057\insrsid13397904\charrsid745444 \endash }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13397904\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) From the Cook Islands, the goods will be treated as being supplied in the Cook Islands: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) To the Cook Islands, the goods will be treated as being supplied outside the Cook Islands. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) A supply of services will be treated as being made - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) In the Cook Islands if the supplier operates in the Cook Islands in respect of the supply: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Outside the Cook Islands if the supplier operates outside the Cook Islands in respect of the supply. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 8. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Place where supplier operates}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - A supplier will be treated as operating in the Cook Islands in respect of a supply if the supplier }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \endash }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Has a branch, agency or other fixed establishment only in the Cook Islands and not elsewhere; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Has no such fixed establishment anywhere but is resident in the Cook Islands; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) Has such a fixed establishment both in the Cook Islands and elsew}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13397904\charrsid745444 here but is making the supply in}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the course of carrying on activities through the fixed establishment in the Cook Islands. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8990150\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 9. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Application of the Act to the Crown}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (l) Subject to this section, this Act will apply to the Crown, or an agency of the Crown, if liable to be a registered person and carrying on a taxable activity. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15676065\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Each instrument or agency of the Crown will be treated as a separate person for the purposes of liability to tax under this Act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15676065\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10971023 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 PART }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15676065\charrsid745444 II}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 IMPOSITION OF THE TAX \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15676065\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 10. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Imposition of value added tax}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Subject to the provisions of this Act, there shall be assessed l}{\fs24\lang2057\langfe5129\langnp2057\insrsid13063984\charrsid745444 evied and paid 1br the use of th}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 e Crown a tax herein referred to as value added tax. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15676065\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Subject to the provisions of this Act, value added tax will be payable by }{\fs24\lang2057\langfe5129\langnp2057\insrsid15676065\charrsid745444 \endash \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Any registered person on account of any supply of goods or services made in the Cook Islands in the course of carrying on a taxable activity, with the amount of tax measured by reference to the value of the supply; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6046278 {\fs24\lang2057\langfe5129\langnp2057\insrsid6046278\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Any person importing goods into the Cook Islands, with the amount of tax measured by re ference to the aggregate of the value of the goods for the purposes of customs duty determined under}{\fs24\lang2057\langfe5129\langnp2057\insrsid15676065\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the Customs Tariff Act 1980 and t}{\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 he items specified in section 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 l (b). \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid15676065\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Notwithstanding subsection (2), no value added tax will be payable - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) In respect of a supply of goods or services in the Cook Islands which is one of the }{ \fs24\lang2057\langfe5129\langnp2057\insrsid8460010\charrsid745444 exempt }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 supplies listed in the First Schedule, unless the supply would (but }{ \fs24\lang2057\langfe5129\langnp2057\insrsid8460010\charrsid745444 fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 r this paragraph) be subject to tax at a 0% rate under section 11(2): \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) In respect of an importat ion of goods into the Cook Islands which is one of the exempt importations listed in the Second Schedule. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) The pr}{\fs24\lang2057\langfe5129\langnp2057\insrsid7160227\charrsid745444 ovisions of Parts V, VI}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 , VII and VIII are not applicable to tax payable on importation under section 19(2)}{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) and subject to subsection (5) that tax will be collected and paid as if it were a customs duty levied on the importation of goods under the Customs Act 1913. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) Subsection (4) will apply only in respect of goods that are}{\fs24\lang2057\langfe5129\langnp2057\insrsid7160227\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid938434\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) imported by the same person as the person who exported them from the Cook Islands}{ \fs24\lang2057\langfe5129\langnp2057\insrsid7160227\charrsid745444 if}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 , at the time of their export from the Cook Islands, those goods were not - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) a supply of goods charged with tax at the rate of zero percent pursuant to section 11; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) a supply of goods, made before 1 July 1997, that would have been charged with tax at the rate of zer}{\fs24\lang2057\langfe5129\langnp2057\insrsid10552811\charrsid745444 o percent pursuant to section 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 1 if the supply of those }{ \fs24\lang2057\langfe5129\langnp2057\insrsid7160227\charrsid745444 goods had taken place on 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 July 1997; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) for the purposes of sections 147 to 157 of the Customs Act 1913, imported by persons that are not registered persons. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 6}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ) This s}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 ection will apply in respect of}{\fs24\lang2057\langfe5129\langnp2057\insrsid7160227\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Any supply of goods or services made on or}{ \fs24\lang2057\langfe5129\langnp2057\insrsid7160227\charrsid745444 af}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ter 1 July 1997; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Any goods imported into the Cook Islands and entered through customs on or after 1 July 1997. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 11. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Rates of tax}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) The rate of value added tax will be 12.5% of - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8550675\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Except in the case of importation, the value of the supply: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid12085682\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) In the case of importation, the aggregate of - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid12085682\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) The value of the goods for the purposes of customs duty; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid7160227\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) The amounts of import levy and customs duty payable in respect of the goods under the Customs Tariff Act 1980 and excise duty payable in respect of the goods under the Customs Act 1913; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid12085682\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (iii) The amount laid or payable to transport the goods to the Cook Islands and to insure }{ \fs24\lang2057\langfe5129\langnp2057\insrsid7160227\charrsid745444 the goods for such transport, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid7160227\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 unless subsection (2) applies. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid12085682\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Notwithstanding subsection (1), the rate of tax will be 0% o f the value of the supply in the case of a supply in the Cook Islands by a registered person which is one of the zero-rated supplies listed in the Third Schedule. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15928144 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 PART III}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 REGISTRATION \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 12. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Re}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 g}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 istration of persons making taxable supplies}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Subject to this section, every person who carries on a taxable activity and is not already registered becomes liable to be registered under this Act }{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \endash }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) At the end of any month if the total value of supplies made in }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Cook Islands by the person in the}{\fs24\lang2057\langfe5129\langnp2057\insrsid7160227\charrsid745444 year which ends with that end o}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 f that month in the course of carrying on taxable activities }{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 has}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 exceede}{\fs24\lang2057\langfe5129\langnp2057\insrsid4876669\charrsid745444 d $30,000 (or such other amount}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 as the Queen's}{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Representative may from time to time, by Order in Executive Council, stipulate); \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7160227 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) At the start of any month if there are reasonable grounds for believing that the total value of supplies made in the Cook Islands by the person in the year which starts at that start of that month in the course of carrying on taxable activit ies will exceed the registration threshold amount. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) In determining whether the total value o}{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 f }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 supplies exceeds the registration thresho}{\fs24\lang2057\langfe5129\langnp2057\insrsid1861522\charrsid745444 ld amount}{\fs24\lang2057\langfe5129\langnp2057\insrsid4876669\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1861522\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The value of exempt supplies will be disregarded; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The value of supplies will be disregarded if and to the extent that the Collector is satisfied that the supply is solely as a consequence of}{\fs24\lang2057\langfe5129\langnp2057\insrsid4876669\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) Any cessation of, or substantial and permanent reduction in the size or scale of, a taxable activity carried on by the person; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) The replaceme nt of any plant or other capital asset used in any taxable activity carried on by the person. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Every person who, under subsection (1) becomes liable to be registered must apply to the Collector in the form prescribed by the Collector for registration u nder this Act within 21 days of becoming so liable and must provide the Collector with such other information as the Collector may consider relevant. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) Notwithstanding subsections (1) and (3), every person who satisfies the \par Collector that - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The person is carrying on a taxable activity; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The person intends to carry on a taxable activity from a specified date, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4876669 {\fs24\lang2057\langfe5129\langnp2057\insrsid4876669\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 may apply to the Collector in the form prescribed by the Collector for registration under this Act, and must provide the Collector wi th such other information as the Collector may consider relevant. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) If a person has applied for registration under subsection (3) or subsection (4) and the Collector is satisfied that the person is eligible to be registered under this Act, the person shall be registered for the purposes of this Act with effect from such date as the Collector determines. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) If a person has not applied for registration under subsection (3) and the Collector is satisfied that the person is liable to be r egistered under this Act, the person will be deemed to be registered for the purposes of this Act with effect from the date on which the person first became liable to be registered under this Act (unless the Collector determines that it would be equitable for the person to be deemed to be registered from a later date stipulated by the Collector). \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7956173\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) Section 6 applies to determine the value of supplies for the purposes of this section except that no regard will be had to any amount of consideration payable in order to recover tax charged in respect of the supplies. \par \par 13. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Cancellation of registration}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) A registered person will cease to be liable to be registered at any time if the total value of supplies to be made in the Cook Islands by the person in the year which starts at that time will be below the registration threshold amount. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1861522\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If a registered person ceases to be liable to be registered, the person may request the Collector in writing to cancel the person's registration. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1861522\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) If the Collector is satisfied that a registered person who has applied for cancellation is no longer liable to be registered, the Collector will cancel the pers}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4876669\charrsid745444 on's registration with eff}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ect from the last day of the monthly return period following the period in which the application for cancellation was made (or with effect from such other date as the Collector may stipulate). \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1861522\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) If the Collector is satisfied that a registered person is no longer liable to be registered and the person has not applied for cancellation, the Collector may nevertheless cancel the per}{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 son's registration with effect f}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 rom the last day of the monthly return period in which the Collector gives notice to the person of the cancellation. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1861522\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) The obligation and liabilities under this Act of any person in respect of anything done, or omitted to be done, by that person while that person is a r}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 egistered person will not be aff}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ected by the fact that the person ceases to be a registered person or by the fact that (lie Collector has cancelled the person's registration. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 14. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Registered person to notify change of status}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - Every regi}{\fs24\lang2057\langfe5129\langnp2057\insrsid4876669\charrsid745444 stered person shall within 21 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ays notify the Collector in writing of }{\fs24\lang2057\langfe5129\langnp2057\insrsid8207604\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 any change i}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 n the name, address or nature of the principal taxable activity or activities of the registered person: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) any change in the address from which, or the name in which, a taxable activity is carried on by the registered person: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) any change where the registered person, being a member of a group of companies under section 33 of this Act, ceases to be eligible to be a member of the group. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12021555 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 PART IV}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3236744 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 RETURNS AND PAYMENTS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 15. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Returns}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Every registered person will furnish to the Collector, in the prescribed form, a tax return for each calendar month }{\fs24\lang2057\langfe5129\langnp2057\insrsid7014868\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) By the 20th day of the following month, unless that day is not a working day in which case the return must be furnished by the working day which immediately succeeds the 20th day; a}{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 nd \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7014868\charrsid745444 (b) Showing th}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 e amount of tax payable in respect of the month as calculated under section 16. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If goods are treated as being supplied under section 3(l) (which relates to a creditor selling go}{\fs24\lang2057\langfe5129\langnp2057\insrsid7014868\charrsid745444 ods of a registered person i}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 n satisfaction of a debt), the creditor selling the goods (whether or not a registered person) must furnish a special return, in the prescribed form, by the 20th day of the month following the month in which the supply occurs and }{ \fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \endash }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The creditor and the debtor must exclude the supply and any tax charged on the supply from any other return; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The tax charged will be treated as tax payable under this Act by the creditor. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) In addition to the returns specified in subsection s (1) and (2), the Collector may require any person to furnish a return to the Collector, in the prescribed form, at any time for the purposes of this Act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) The Collector, for good cause shown, may extend the time for making the return on the applicati on of any registered person and grant such reasonable additional time within which to make the same as may, by the }{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 Collector}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 be deemed advisable. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 15A. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Accounting Basis}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) A registered person may elect to account for tax payable on either an invoice basis or a payments basis and shall notify the Collector of the election in the prescribed form. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If a registered person fails to elect a basis for accounting for tax payable under subsection (1), the registered person shall be deemed to have elected to a ccount for tax payable on a payments basis. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) The Collector may, on application in writing by a taxpayer, approve a change in the basis for accounting for tax payable by the registered person and the change shall take effect from the beginni}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 ng of the next month that foll}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ows the receipt of the application by the Collector or of such later month as the Collector approves. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) Where a registered person changes the basis for accounting for tax payable under subsection (3), the registered person shall: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Prepare a list of creditors of the registered person in relation to that person's taxable activity, showing the amounts due by that}{\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 person as at the last day of the month preceding that in which the change takes effect; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Prepare a list of debtors of th e registered person in relation to that person's taxable activity, showing the a}{\fs24\lang2057\langfe5129\langnp2057\insrsid131644\charrsid745444 mounts due to that person as at}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the last day of the month preceding that in which the change takes effect. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4527826\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) The particulars required to be furnished under subsection (4) sh all be furnished to the Collector not later than the last day for furnishing a return pursuant to section 15 for the month preceding that i}{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 n which the change takes effects.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par 15B. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 T}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ax payable or refund where change in accountin}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 g}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 basis}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Every registered person whose accounting basis changes pursuant to section 15A shall, not later than the last day allowed under subsection 15A(5) for furnishing particulars in respect of the change, pay the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Collector the tax payable, if any, as determined pursuant to this section. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Where a registered person changes from an invoice basis to a payments basis of accounting, the tax payable shall be an amount determined in accordance with the following formula: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid131644 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 b \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid131644 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 where }{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \endash }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1403147 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid1403147\charrsid745444 - }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 is the aggregate amount able to be deducted pursuant to section 16(4) in relation to the amounts due that are required to be shown in the list of creditors required to be prepared by the person under section 15A; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1403147 {\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1403147 {\fs24\lang2057\langfe5129\langnp2057\insrsid11236843\charrsid745444 b}{\fs24\lang2057\langfe5129\langnp2057\insrsid1403147\charrsid745444 - }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 is the aggregate amount of the tax payable pursuant to section 16(3) in relation to the amounts due that are required to be shown in the list of debtors to be prepared by the person under section 15A. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Where a registered person changes from a payments basis to an invoice basis of accounting, the tax payable shall be an amount determined in accordance with the following formula: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid131644 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 b \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid131644 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 where }{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \endash }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1403147 {\fs24\lang2057\langfe5129\langnp2057\insrsid11236843\charrsid745444 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid1403147\charrsid745444 - }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 is the aggregate amount of the tax payable pursuant to section 16(3) in relation to the amounts due that are required to be shown in the list of debtors to be prepared by the person under section 15A; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1403147 {\fs24\lang2057\langfe5129\langnp2057\insrsid11236843\charrsid745444 b}{\fs24\lang2057\langfe5129\langnp2057\insrsid1403147\charrsid745444 - }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 is the aggregate amount able to be deducted pursuant to section 16(4) in relation to the amounts due that are required to be shown in the list of creditors to be prepared by the person un der section 15A. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) If the amount determined under subsection (2) or (3) is a negative amount, the amount will be refunded by the Collector to the registered person under section 29. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 16. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Calculation of tax payable or refund due}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Every registered pe rson will calculate the amount of tax payable by, or refund due to, the registered person in respect of each monthly return period under the rules in this section. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) The tax payable or refund amount is calculated by }{\fs24\lang2057\langfe5129\langnp2057\insrsid131644\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Adding the amounts referred to in subsection (3); and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Deducting the amounts referred to in subsection (4) but subject to subsections (5), (6) and (7). \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) The amounts to be added are - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) In respect of supplies made by the registered person - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid10237579\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) If the registered person accounts for tax on an invoice}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 basis, all amounts of tax payable in respect of supplies where the time of sup}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 ply falls during the month; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) If the registered person accounts for tax on a payments basis, all amounts of tax payable in respect of suppli}{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 es to the extent that payment fo}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 r the supply has been received during the month; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) All amounts to be added under section 19(2) or (7) (which relate to subsequent period adjustments) or section 20(2) (which relates to recovered bad debts). \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) The amounts able to be deducted are }{\fs24\lang2057\langfe5129\langnp2057\insrsid8257818\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) All amounts of tax payable by other registered persons in respect of supplies made to the first registered person }{\fs24\lang2057\langfe5129\langnp2057\insrsid8257818\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) if the first registered person accounts for tax on an invoice basis, where the time of}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 supply falls during the month; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) If the first registered person accounts for tax on a payments basis, to the extent that a payment in respect of the supply has been made during the month, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13638871 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 but subject to subsections (5), (6) and (7); and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) All amounts of tax payable under section 10(2)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) by the registered person in respect of the importation of goods - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) if the registered person accounts for tax on an invoice basis, where the tax is invoiced by the Collector or paid (whichever is the earlier) during the month; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) If the registered person accounts for tax on a payments basis, to the extent that payment of the tax is made during the month, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13638871 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 but subject to subsections (5) and (6); and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) Amounts equal to one-ninth of the considerati on in money for all supplies of secondhand goods to the registered person }{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \endash }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) If the registered person accounts for tax on an invoice basis, the time of supply falls during the month; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) If the registered person accounts for tax on payments basis , to the extent the consideration is paid during the month; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (iii) The place of supply is in the Cook Islands; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (iv) The goods are not supplied by a supplier who is not resident in the Cook Islands and who has previously supplied the goods to a registered person who has entered the goods for home consumption under the Customs Act 1913, \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13638871 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 and subject to subsections (5) and (6) of this section; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) All amounts deductible under section 19(2) or (8) (which relate to subsequent period adjustments) or section 20(1) (which relates to bad debts); and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8257818 {\fs24\lang2057\langfe5129\langnp2057\insrsid8257818\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (e) Amounts equal to one-ninth of any payments made during the month by the registered person to indemnify another person under a contract of insurance but only if }{\fs24\lang2057\langfe5129\langnp2057\insrsid8257818\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) The supply of the contract of insurance is a taxable supply;}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) The payment is not in respect of the supply of goods or services to the registered person or importation of goods by the registered person; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (iii) The supply of the contract of insurance was not subject to tax at the 0% rate in any case where the other person is, at the time of payment, neither a registered person nor resident in the Cook islands; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (iv) The paym ent does not result from a supply of goods or services to the other person where the place of supply is}{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 utside the Cook Islands; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (v) The payment is not to indemnify the other person for loss of employment services earnings. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) An amount to which subsection (4)}{\fs24\lang2057\langfe5129\langnp2057\insrsid9529877\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a), (b) or (c) refers - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Will be wholly deductible if the goods or services are acquired by the registered person wholly for the purposes of making taxable supplies: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) If the goods or services are acquired by th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 e registered person partially fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 r the purposes of making taxable supplies and are not a car or pick-up truck, will be deductible only to the extent that the goods or services are acquired for the purp}{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 oses of making taxable supplies:}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) If the goods are a car or pick-up truck acquired by th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 e registered person partially fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 r the purposes of making taxable supplies, will be deductible only to the extent which the Collector, by notice in writing to the registered person, considers equitable. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) In a case to which subsection (5)}{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) of this section applies, the extent to which }{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 goods or services are acquired fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 r the purposes of making taxable supplies will be determined }{\fs24\lang2057\langfe5129\langnp2057\insrsid9529877\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Having regard only to the circumstances existing in the month of acquisition or such longer period as the Collector considers equitable; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) By the Collector, if the extent cannot be determined otherwise.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) No deduction will be made for }{\fs24\lang2057\langfe5129\langnp2057\insrsid9529877\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) An amount referred to in subsection (4)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) or (d) unless }{\fs24\lang2057\langfe5129\langnp2057\insrsid9529877\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\tx1530\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) A tax invoice provided under section 18 or debit or credit note provided under section 19 in respect of the supply is held by the registered pers}{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 on when the return is filed; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) None of a tax invoice, credit note or debit note is required to be pr}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 ovided in respect of the supply;}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) An amount referred to in subsection (4)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) unless the registered person keeps the records referred to in section 18(5): \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) An amount referred to in subsection (4)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) to the extent to which }{\fs24\lang2057\langfe5129\langnp2057\insrsid2176319\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) The supplier of the secondhand goods was a person related (by blood, marriage or ownership) to the registered person; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) Consideration for the supply exceeded the open market value of the supply. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (8) A deduction in calculating the tax payable or refund due for a monthly return period will also be available if and to the extent that }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2176319\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) A deduction would have been available in an earlier return period but for the fact that the registered person did not hold a tax invoice and the registered person holds such a tax i}{\fs24\lang2057\langfe5129\langnp2057\insrsid2176319\charrsid745444 nvoice at the time}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the return is filed for the later return period: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) A deduction could have been claimed in an earlier return period but was not in fact included in a retur}{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 n for an earlier return period. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (9) If the calculation in a return produces }{\fs24\lang2057\langfe5129\langnp2057\insrsid5664066\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) A positive amount, the amount will be tax payable by the registered person under section 17: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid8730933\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) A negative am}{\fs24\lang2057\langfe5129\langnp2057\insrsid1463261\charrsid745444 ount, the amount will be a refu}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 nd due to the registered person under section 29. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid1463261\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 17. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Payment of tax}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) A registered person must pay any tax payable calculated under section 16 for a monthly return period by the day on which the return must be filed for the period. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1463261\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) }{\fs24\lang2057\langfe5129\langnp2057\insrsid1463261\charrsid745444 Subject to Parts V an}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 d VI, the amount of tax payable calculated in a return furnished by the registered person will be conclusively treated as being correct for the purposes of this Act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1463261\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) All remittances of tax will be made by money, bank draft, cheque, cashier's cheque, mon ey order, or certificate of deposit to the office of the Department nearest to the principal place of business of the registered person, the office of the Department in Rarotonga, or}{\fs24\lang2057\langfe5129\langnp2057\insrsid1463261\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 such other place as may be determined by }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Minister and notified in the Gazette. The Department will issue its receipts there to the taxpayer and shall pay the moneys into the Cook Islands Government account to be kept and accounted for as provided by law. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 18. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Tax invoices}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Subject to this section, a registered person making a taxable supply to another registered person must provide the other registered person with a tax invoice within 28 days of the other registered person requesting such a tax invoice. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) A recipient of a supply of goods or services who is a registered person may create a document which is treated as a tax invoice provided by the supplier under subsection (1) if}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5664066\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The document otherwise complies with the requirements of this section; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The Collector has previously granted approval for the issue of such a document by such a recipient; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) The supplier and the recipient agree that the supplier will not issue such a tax invoice; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) The supplier is provided with a copy of the document; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (e) The words "buyer created tax invoice - Inland Revenue Management approved" are contained on the document in a prominent place. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) The tax invoice must contain the particulars specified in the prescribed form. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) A registered person must not provide more than one tax i nvoice for a taxable supply, unless the other registered person claims to have lost the original, in which case a copy can be provided clearly marked "copy only". \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) Notwithstanding the preceding subsections, a registered person is not required to provide a tax in}{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 voice if -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The consideration in money for the supply does not exceed $50 (or such greater amount as the Queen's Representative may declare by Order-in-Council); or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The Collector determines that sufficient records will exist to establish the particulars of the supply and it would be impractical to require issue of a tax invoice. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) A registered person who acquires secondhand goods under a supply which is not a taxable supply must keep records of the supply showing the particulars specif ied in the prescribed form. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) Subsection (6) will not apply if the consideration in money for the supply does not exceed $50 (or such greater amount as the Queen's Representative may declare by Order in Council). \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 19. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Credit and debit notes}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) This s ection applies if, in relation to a supply of goods and services by a registered person }{\fs24\lang2057\langfe5129\langnp2057\insrsid8213026\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The supply has been cancelled; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The nature of the supply has been fundamentally varied or altered; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) The agreed consideration for the supply has been altered; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) All or part of the goods or services have been returned to the registered person, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14707906 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 and the registered person has }{\fs24\lang2057\langfe5129\langnp2057\insrsid8213026\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (e) Provided a tax invoice in respect of the supply which is incorrect; or (f) Furnished a return for the relevant monthly return period which shows an incorrect amount of tax payable or refund due, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 as a result of one or more of these events. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If the registered person has accounted for an incorrect amount of tax payable or refund due, - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The registered person will make an adjustment in calculating the tax payable or refund due by the registered person in the return for the monthly return period during which it has become apparent that a correction is needed; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) If the tax properly payable by the registered person in respect of the supply exceeds the tax accounted for, the excess is to be treated as tax payable in relation to a taxab le supply in the later monthly return period and not in the original monthly return period; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3236744 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) If the tax properly payable by the registered person in respect of the supply is less than the tax accounted for, the registered person will make a deduction o}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 f}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the difference under section 16(4) in respect of the later monthly return period. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) If a tax invoice to which subsection (1)}{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (e) refers has been provided and }{\fs24\lang2057\langfe5129\langnp2057\insrsid8213026\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The amount shown as tax payable on the invoice exceeds the correct amount of tax p ayable, the registered person must provide the recipient with a credit note; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The amount shown as tax payable on the invoice is less than the correct amount payable, the registered person must provide the recipient with a debit note, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 containing the particulars sp}{\fs24\lang2057\langfe5129\langnp2057\insrsid3236744\charrsid745444 ecified in the prescribed form. \par \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) A registered person }{\fs24\lang2057\langfe5129\langnp2057\insrsid8213026\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Must not issue more than one credit note or debit note in respect of the same excess or difference; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) May issue to a recipient a copy of a credit note or debit note if the recipient claims to have lost the original and the copy is clearly marked "copy only"; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) Is not required to provide a recipient with a credit note if and to the extent that the excess results from a prompt payment discount which is clearly described on the face of the tax invoice. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) If a recipient of a supply who is a registered person has created a document which complies with the requirements of this section in respect of a credit note or debit note in respect of that supply which could have be en issued by the supplier, the document will be treated as if issued by the supplier under this section if }{\fs24\lang2057\langfe5129\langnp2057\insrsid8213026\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The Collector has granted prior approval to the issue of such a document by such a recipient; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The supplier and the }{\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 recipient}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 have agreed that the supplier will not issue such a credit note or debit note; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) The supplier does not in fact issue such a credit note or debit note; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) The supplier is provided with a copy of the credit note or debit note. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) A registered person i s not required to issue a credit note or debit note if the Collector determines that sufficient records will exist to establish the particulars of the supply and it would be impractical to require issue of a credit note or debit note. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) If a recipient, being a registered person, - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Has been issued with a credit note under this section or otherwise knows that a tax invoice held by the recipient is incorrect as a result of one of the events listed in subsection }{\fs24\lang2057\langfe5129\langnp2057\insrsid13700138\charrsid745444 (1)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Has made a deduction under section 16(4) in respect of tax payable on the relevant supply, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 an amount equal to any excess of the tax for which a deduction has been made over the tax actually payable is to be treated as tax payable by the recipient in respect of a taxable supply made by the recipient in the monthly retu}{\fs24\lang2057\langfe5129\langnp2057\insrsid11407977\charrsid745444 rn period in which the credit no}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 te or the knowledge is received. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par (8) }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 If a recipient, being a registered person, - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Has been issued with a debit note under this section; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Has made a deduction under section 16(4) in respect of the tax}{ \fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 payable on the relevant supply, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7036269 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 an amount equal to any excess of the tax actually payable over the tax for which a deduction has been made is to be treated as a deduction available to the recipient under section 16(4) for }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 monthly return period in which }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 debit note is received. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 20. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Bad debts}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) If a registered person }{\fs24\lang2057\langfe5129\langnp2057\insrsid8213026\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4224483 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Has made a taxable supply for consideration in money; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid7036269\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4224483 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Has furnished a return for the monthly return period in which the time of supply fell; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4224483\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4224483 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid4224483\charrsid745444 H}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 as properly accounted for the tax payable on }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 supply as required under this Act; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4224483\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4224483 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) Has written off as a bad debt the whole or part of the consideration in money not p}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13262139\charrsid745444 aid to the registered person -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4224483\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the registered person will make a deduction under section 16(4) for that proportion of the tax payable in respect of the supply which the bad debt represents as a proportion of the total consideration for the supply. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4224483\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If an amount in respect of which a deduction has been made under subsection (1) is subsequently wholly or partly recovered, the portion of the deduction which is equal to the portion which the recovered amount is of the bad debt is to be treated as tax payable}{\fs24\lang2057\langfe5129\langnp2057\insrsid2971579\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 in respect of a taxable supply by the registered person during the monthly return period in which }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 recovery takes place. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4224483\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4224483 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 P}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4224483\charrsid745444 ART V \par }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ASSESSMENT OF TAX \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4224483\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 21. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Assessment of tax}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) The Collector may, from time to time, from returns furnished under this Act or from other information, make assessments of the amount which the Collector considers is the tax payable under this Act by any person. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) }{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 I}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 f}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8213026\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid524756 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) A person is not satis fied with a return furnished by the person or by another person under section 15(2) in respect of goods supplied to satisfy a debt owed by the person; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid524756 {\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid524756 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The person requests the Collector to alter the return; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid524756 {\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid524756 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) The Collector has not already ma de an assessment of the tax payable in respect of the monthly return period to which the return relates, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the Collector will make an assessment of the amount that the Collector considers is the tax payable under this Act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Any person assessed by the Collector as being liable to tax will be liable to pay the tax assessed except to the extent that the person establishes on objection that }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 tax is not payable. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) The Collector may from time to time amend an assessment to ensure its}{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 correctness. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) If an assessment or amended assessment is made under th}{\fs24\lang2057\langfe5129\langnp2057\insrsid12746146\charrsid745444 i}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 s section, the}{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Collector will - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid524756 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Cause notice of the assessment or amended assessment to be given to the person liable to pay the tax; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid524756 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) In the case of an assessment in respect of a return under section 15(2), send a copy of the assessment to whichever, of }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 person whose goods were supplied and the person selling the goods, is not }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 person assessed, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 but failure to give notice will not invalidate the assessment. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) In the case of an assessment not made until, or increased, after the due date of payment of the tax, the Collector will set a new due date for payment being one month}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 af}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ter the date of payment but without prejudice to the application of section 24(a)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13006422\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii). \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) For the purposes of Parts IV, VII and X, if - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid524756 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) A person, not being a registered person, supplies goods and services and represents that tax is payable on that supply; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid524756 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) A person furnishes, or makes default in furnishing, a return requir ed to be made by the person under section 15(2), - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the person will be treated as being a registered person and any tax represented to be payable on the relevant supply by the person will be tax payable by the person. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 22. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Correctness of assessments}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid524756\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (1) Except in objection proceedings under Part VI, an assessment by the Collector may not be disputed in any court and will be conclusively deemed and taken to be correct and the liability to tax of the person assessed will be determined accordingly. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) The validity of an a}{\fs24\lang2057\langfe5129\langnp2057\insrsid524756\charrsid745444 ssessment will not be aff}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ected by reason that any of the provisions of this Act have not been complied with. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 PART VI \par OBJECTIONS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 23. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Objections}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - Any person who has been assessed }{\fs24\lang2057\langfe5129\langnp2057\insrsid11102937\charrsid745444 for value added tax for any}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 month may object against the assessment in the manner and wit}{\fs24\lang2057\langfe5129\langnp2057\insrsid524756\charrsid745444 hin the time and in all other}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 respects as provided in the case of income tax objections by Part IV of the Income Tax Act}{\fs24\lang2057\langfe5129\langnp2057\insrsid15168199\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 1997, with any necessary modifications. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 PART VII}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 RECOVERY OF TAX \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 24. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Additional taxes for non-compliance or evasion}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - There shall be added to and become part of the tax imposed by this Act and collected as such - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) In the case of any failure to pay any tax required to be paid under this Act by the due date for payment under this Act, there will be added to the tax}{\fs24\lang2057\langfe5129\langnp2057\insrsid8213026\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) Additional tax of 5% of the tax; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid13006422\charrsid745444 (ii) A further 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 % for each complete month during which the failure continues; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) If any part of the underpayment of tax required to be shown on any return is due to fraud, there shall be added to the tax an amount of up to 50% of the underpayment as determined by the Collector. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 25. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Payment and recovery of tax}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - The provisions of s ections 191 to 201 (both inclusive) of Part XI of the Income Tax Act 1997 relating to the payment and recovery of tax shall apply as if they were incorporated in and formed part of this Act, all references therein to "income tax" being read as references t}{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 o "value added tax" an}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 d with all other necessary modifications. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 26. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Distrain for unpaid tax}{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 The Collector may levy distress on the goods, other than real property, and chattels of any registered person who refuses or fails to pay any tax payable by the registered person or any other amount recoverable }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 f}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ro}{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 m}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the registered person under this Act and for the disposal of any such goods or chattels by supply or otherwise to recover the amount of the tax payable by the registered person and any other amount rec overable from the registered person including the costs and expenses of the disposal. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 27. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Priority for tax}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - Notwithstanding section 25, if a person has not paid any amount of value added tax as required under this Act, the amount of tax unpaid will, in the application of the assets of the person, rank as follows: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) If the person is an individual, upon the person's bankruptcy or upon the person making an assignment for the benefit of the}{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 person's creditors, the amount of the tax payable will rank, in order of priority, immediately after preferential claims for wages or other sums payable to any worker, and in priority to all other claims; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 I}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 f}{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the person is a company}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15034139\charrsid745444 ,}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 upon the liquidation of the company or upon the appointment of a receiver on behalf of the holder of any debenture given by the company secured by a charge over any property of the company or upon possession being taken on behalf of that debenture}{ \fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 holder of the property, the amount of the tax payable will rank immediately after preferential claims for wages or other sums payable to any worker, and in priority to all other claims; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 If the p erson is a body of persons other than a company, upon the appointment of a receiver on behalf of any person under any order by a court, the amount of tax payable will rank, in order of priority, immediately after any preferential claims for wages or other sums payable to any worker, and in priority to any claims of holders of debentures under any floating charge (including a floating charge which has since creation become a fixed or specific charge) created by the body and will be paid accordingly out of a ny priority comprised in or subject to that charge. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 28. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Statute of }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 Li}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 mitation}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - No statute of limitation shall bar or affect any action or remedy for recovery of tax under this Act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 PART VIII \par REFUNDS AND RELIEF \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 29. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Refunds of excess credits}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Subject to this section, if a refund is due to a registered person under section 16, the Collector will refund the amount to the registered person not later than 15 working days following the day on which the return of the registered person was rec eived by the Collector. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Notwithstanding subsection (1), if the Collector is not satisfied with the return made by a registered person and decides that }{ \fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 f}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 u}{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 r}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ther investigation is required, the Collector may withhold payment of the amount otherwise refunda ble until the later of the date the investigation is completed and the date the registered person has supplied all i}{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 n}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 formation requested. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Notwithstanding subsection (1), but subject to subsections (2) to (7) inclusive, if a registered person has, - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) In respect of a monthly return period, failed to pay the Collector in whole or in par}{ \fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 t any amount of tax payable befo}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 re the due date for payment for the tax; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) In respect of any obligation impose}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13006422\charrsid745444 d under the Income Tax Act 1997,}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the Customs Tariff Act 1980 or the Customs Act 1913, failed to pay to the Collector any amount in whole or in part, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the Collector may set off, against that unpaid tax duty or levy, any amount otherwise refundable to the person under section 16, or any amount of interest p ayable under section 30, and will treat any amount so set of as a payment received from the registered person. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) Notwithstanding subsection (1), but subject to subsections (2) to (7) inclusive, if a registered person has failed to furnish a return for a monthly return period, the Collector may withhold any amount otherwise refundable under section 16, or any amo unt of interest payable under section 30, until the registered person has complied with the return filing requirements. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) The Collector will give notice in writing to the registered person of any action taken under subsection (2), (3) or (4) within the p eriod of 15 working days following the day on which the return showing the refund due was received by the Collector. \par \par (6) If the Collector requires further information from a registered person in order to investigate a monthly return, the Collector will give notice in writing to the registered person, - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) In respect of an initial request for information in respect of the return, within the period of 15 working days following the day on which the return was received by the Collector; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) In relation to subsequent requests for information in respect of a return, within the period of 15 working days following the date of receipt of any information previously requested by the Collector. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) All money payable by tine Collector under thus Part will be paid without further appropriation than this Act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 30. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Interest on refunds of excess credits}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) In any case where the Collector }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 is required by section 29 to ref}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 und an amount to a registered person and the Collector does not refund the amount within the period of 15 working days following the day upon which the return}{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 of the registered person was received by the Collector, the Collector will pay to the registered person interest on the amount withheld. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Interest payable under this section will be payable al the rate of 12% per annum calculated on a daily basis from the day following the day on which the Collector is required under section 29 to refund an amount to the registered person. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Notwithstanding anything in this section, no interest will be payable if the}{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 amount of interest that, but for this subsection, would be paid is less than $5. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) Notwithstanding anything in this section, interest will not be p}{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 ayable in respect of any period}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8981530\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) During which the Collector is not sa}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8981530\charrsid745444 tisfied with the return made by}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the registered person and is undertaking further investigation; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) During which the Collector has requested further information from the registered person in respect of the return and has not received all the information requested; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) After the Collector has set off under section 29(3) the amount of}{ \fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 refund due against tax payable by the registered person; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) During which the registered person has failed to furnish a return}{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 under this Act for a monthly return period; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 nor will interest be payable in respect of a period that ends ten work}{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 ing days after the end of any }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 period referred to in paragraphs (a) to (d) above. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) If the Collector is satisfied that the amount of any interest paid to a person under this section is in excess of the proper amount, the Collector may recover the amount of the excess in the same manner, with any necessary modifications, as}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8213026\charrsid745444 if it were tax payable by the }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 person. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 31. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Refund of tax overpaid}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) If a registered person has paid to the Collector any amount in excess of the amount of the tax payable under section 16 in respect of any monthly return period, the Collector will refund the amount paid in excess. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Subject to subsection (3) of this section, no re}{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 f}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 und will be made after the expiry of the period of 8 years immediately following the end of the monthly return period, unless written application for the refund is made by or on behal f of the registered person before the expiration of that period. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid6432019\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) If an assessment made under this Act reduces any amount of tax payable by a registered person or increases any amount refundable by the Collector to a registered person, the Collector wi ll, notwithstanding that the time limited in accordance with subsection (2) for the making of a refund may have expired, refund the excess tax or deficient refund. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) No refund will be made under subsection (3) after the expiry of the period of 8 years i mmediately following the end of the year in which the assessment was made, unless written application for the refund is made by or on behalf of the registered person before the expiry of the period. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 32. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Relief from tax}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - Sections 203, 204, and 205 of the Income Tax Act 1997 shall apply as if they were incorporated in and formed part of this Act. Any reference therein to "tax"}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 shall be read as a reference to "value added tax" and with all other necessary modifications. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 PART IX}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 SPECIAL CASES \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 33. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Groups of companies}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) For the purposes of this Act, two or more companies, each being a registered person, are eligible to be members of a group of companies in respect of any month if they consist of substantially the same shareholders under section 3(2) of the Income Tax Act 1997. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If 2 or more companies apply to be members of a group of companies for the purposes of this section and the Collector is satisfied that they are eligible to be members of a group of companies under subsection (1) of this section, they will be members of a group of companies from }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 beginning of such monthly return period as is determined by the Collector. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) In any application made under subsection (2), one such company will be nominated to be the representative member. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) If any companies are members of a group of companies, the representative member may apply to the Collector for - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The addition to that group of a further eligible company; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The exclusion from that group of }{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 one of }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 current members; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) The substituti}{\fs24\lang2057\langfe5129\langnp2057\insrsid2626925\charrsid745444 on of another member of}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the group as the representative member; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) That group of companies to no longer be a group of companies for the purposes of this section, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 and the Collector will grant }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 application from the beginning of such monthly return period as is determined by the Collector. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) If any member of a group of companies ceases to be eligible to be a member of the group and the Collector becomes aware of that fact, the Collector will, by notice in writing given to that m ember or the representative member, terminate that membership from such date as may be specified in the notice. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) For the purposes of this Act, a notice under thus Act addressed to the representative member will be deem to be served on all members of }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 group. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) If any companies form a group of companies for the purposes of this}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 section}{\fs24\lang2057\langfe5129\langnp2057\insrsid13006422\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Any taxable activity carried on by a member of the group will be deemed to be carried on by the representative member and not to be carried on by any other member of the group; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Subject to the following paragraphs of this subsection, any taxable supply by a member of the group to another member of }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 group may be disregarded; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) Any taxable supply by a member of the group to a person outside the }{ \fs24\lang2057\langfe5129\langnp2057\insrsid11223913\charrsid745444 group or from a person outside th}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 e group to a member of }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 group will be deemed to be a taxable supply by or to the representative member; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) Any supply of goods and services which is not a taxable supply made by a member of the group will be deemed to be made by the representative member; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (e) Any deductions under section 16(4) otherwise available to a member of the group will be deemed to be available only to the representative member; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 f}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ) Any obligation on a member of the group, other than the representative member, to file returns under section 15 of this Act will be disregarded. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (8) Notwithstanding subsection (7), - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) All members of the group will remain liable jointly and severally for any tax payable by the representative member; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The provisions of section 18, section 42 and Part III shall continue to apply to all members of the group. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par (9) If the Collector is satisfied in relation to 2 or more registered persons (not each being companies) that - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) One of them controls each of the others; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) One person controls all of them; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) Two or more persons carrying on a taxable activity in p}{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 artnership control all of them,}{\fs24\lang2057\langfe5129\langnp2057\insrsid6633687\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the Collector may deem thos}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 registered persons to be me mbers of a group and the preceding subsections of this section (other than subsection (1)) will apply as if every reference in the said subsections to a group of companies were a reference to that group and as if every reference in the said subsections to companies were reference to the members of the group. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 34. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Unincorporated bodies}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) For the purposes of this section - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Body" means an unincorporated body of persons and includes a partnership, a joint venture and the trustees of a trust: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Member" means a partner, joint venturer, trustee, or other member of any body. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If an unincorporated body that carries on any taxable activity is registered under this Act:}{\fs24\lang2057\langfe5129\langnp2057\insrsid6633687\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The members of the body will not themselves be liable to be registered under this A ct in relation to the carrying on of the taxable activity; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Any supply of goods and services made in the course of carrying on the tax}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 able activity will be treated fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 r the purposes of this Act as being supplied by the body and not supplied by any m ember of a body; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) Any supply of goods and services to, or acquisition of goods by, a member of the body acting in the capacity as a member of the body and in the course of carrying on the taxable activity will be treated for the purposes o f this Act as being supplied to or acquired by the body and will be treated as not being supplied to or acquired by the member; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) The registration will be in the name of the body, or where the body is the trustees of a trust, in the name of the trust; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (e) Subject to subsection (3), any change of members of the body will have no effect for the purposes of this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Notwithstanding anything in this section, every member is jointly and severally liable with any other members for tax payable by the body while that member remains a member of a body. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) If a body is a partnership, joint venture, or the trustees of a trust, a member will not cease to be a member of the body for the purposes of this section until the date on which any change of me mbership of the body is notified in writing to the Collector. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) For the purposes of th}{\fs24\lang2057\langfe5129\langnp2057\insrsid6633687\charrsid745444 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 s Act, a notice served in accordance with this Act which is addressed to a body by the name which it is registered under th}{\fs24\lang2057\langfe5129\langnp2057\insrsid2441213\charrsid745444 i}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 s Act will be treated as being served on the body and on all members of the body. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 6}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ) Subject to subsection (7) of this section, if anything is required to be done under this Act by or on behalf of a body, it will be the joint and several liability of all the members to do any such thing but if a ny such thing is done by one member it will be sufficient compliance with this requirement. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) Notwithstanding anything in th}{\fs24\lang2057\langfe5129\langnp2057\insrsid4272386\charrsid745444 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 s section but subject to subsection (3), if anything is required to be done under this Act by or on behalf of a body (other than a partnership, joint venture or trustees of a trust) the affairs of which are managed by its members or a committee of its members, it will be the joint and several responsibility of}{\fs24\lang2057\langfe5129\langnp2057\insrsid13006422\charrsid745444 } {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Every member holding office as president, chair, treasurer, secretary or any similar office; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) In default of any such member, every member holding office as a member of a committee, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 but if any such thing is done by any official or committee member it will be sufficient compliance with any such requirement. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 35. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Agents and auctioneers}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Subject to this section, for the purposes of this Act, if an agent makes a supply of goods and services for and on behalf of any other person who is the principal of that agent, a supply will be treated as being made by }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 principal and not by the agent. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Notwithstanding subsection (1), if the supply is a taxable supply, an agent of registered person may, notwithstanding anything in this Act, issue a tax invoice or a credit note or a debit note in relation to the supply as if the agent had made the taxable supply and, to the extent that that tax invoice or credit note or debit note relates to the supply, the principal will not also issue the tax invoice o r credit note or debit note (as }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 case may be). \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Subject to this section, for the purposes of this Act, if a registered person makes a taxable supply of goods and services to an agent who is acting on behalf of another person who is the principal for the purpose of the supply, the supply will be treated as being made to the principal and not to the agent. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) Notwithstanding subsection (3), the agent may nevertheless request that the agent be issued with a tax invoice and the registered person making the supply may issue a tax invoice or a credit note or a debit note as if the supply were made to the agent. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) If a tax invoice or a credit note or a debit note in relation to a supply has been issued under this section by an agent or to an agent, the a gent will maintain sufficient records to enable the name and address and registration number (if any) of the principal to be ascertained. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) Notwithstanding anything in the foregoing provisions of this section, if the principal and an agent who is an auc tioneer agreed to have a supply by auction of goods, not being a taxable supply, treated as if the supply had been made by }{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 auctioneer and not by the principal, the supply will be subject to tax as if it were made by the auctioneer in the course or furt herance of the auctioneer's taxable activity and the auctioneer may - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Recover the amount of tax charged on the supply from the principal as a debt together with the costs of recovery in any Court of competent jurisdiction; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Retain or deduct the same out of any money in the auctioneer's hands belonging or payable to the principal. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) Notwithstanding anything in subsection (3) of this section, if a registered person makes a taxable supply (not being a supply which is charged with tax at the rate of 0%) of goods or services to an agent, being a registered person, who is acting for and on behalf of another person who is a principal for the purpose of the supply and - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The principal is not resident in the Cook Islands and is not a registered person; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The supply is directly in connection with the exportation of goods from }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Cook Islands or the importation of goods into the Cook Islands, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 thi}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 s Act will, if the agent and th}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 e principal agree, have effect as if the supply were made to the agent and not to the principal. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 36. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 Personal representatives, liq}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 uidators, receivers etc}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) In this section - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Agency period" means the period beginning on the date on which a person becomes entitled to act as a specified agent carrying on a taxable activity in relation to an incapacitated person and ending on the earlier of - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The date on which some person other than the incapacitated person or the specified agent is registered in respect of the taxable activity; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The date on which the person ceases to be a specified agent in relation to the incapacitated person: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Incapacitated person" means a registered person who dies, or goes into liquidation or receivership, or becomes bankrupt or is otherwise incapacitated: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Specified agent" means a person carrying on any taxable activity in a capacity as personal representative, liquidator, or receiver of an incapacitated person, or otherwise as agent for or on behalf of or in the stead of an incapacitated person. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Fo r the purposes of this Act and notwithstanding section 35, if any person becomes a specified agent that person will, during the agency period, be deemed to be a registered person carrying on the taxable activity of the incapacitated person, and the incapa citated person will during that period be deemed not to be carrying on that taxable activity. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) If a mortgagee is in possession of any land or other property previously mortgaged by the mortgagor, being a registered person, the Collector may, from the da te on which the mortgagee took possession of that land or other property, until such time as the mortgagee ceases to be in possession of that land or other property, deem the mortgagee, in any case if and to the extent that the mortgagee carries on any ta xable activity of the mortgag}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 or, to be a registered person.}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) Any person who becomes a specified agent, or who as a mortgagee in possession carries on any taxable activity of the mortgagor, will, within 21 days of becoming a specified agent or commencing that taxable activity of the mortgagor, inform the Collector in writing of that fact and of the date of the death or of the liquidation or receivership or bankruptcy or mortgagee taking possession of any land or other property previously mortgaged by the mortgagor, or of the nature of the incapacity and the date on which it began. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 37. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Agents in the case of absentees}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - If any person acts or assumes to act as the agent of any other person who is outside the Cook Islands or does not have place of business in the Cook Islands, the agent will be liable to the same value added tax and all obligations imposed by this Act as if the agent were the principal for whom the agent so acts or assumes to act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 38. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Goods and services acquired before incorporation}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) If - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) An amount of tax has been charged under this Act in relation to the acquisition of goods and services for and on behalf of a company or in connection with the incorporation of a company; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The company becomes a registered person on incorporation; and}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) The goods and services were acquired prior to incorporation by a person who - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) Became a member, officer, or employee of the company and was reimbursed by the company for the whole amount of the consideration paid }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 for the goods and services; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) Acquired those goods and services for the purposes of a taxable activity to be carried on by the company and has not used those goods and services for any purpose other than such taxable activity, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the company will be deemed to be the recipient of the goods and services as if the supply or importation in question had been made during the monthly return period in w}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 hi}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ch the reimbursement referred to in this section is made. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) This section will not apply in relation to any goods and services where -}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The supply of the goods and services by the person to the company is itself a taxable supply or is a supply of secondhand goods not being a taxable supply; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The goods and services were acquired more than 6 months prior to the date of incorporation of the company; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) The company does not hold sufficient records to establish the particulars relating to the deduction to be made under section 16(4) as a result of the application of this section. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 PART }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 X \par }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 OFFENCES AND PENALTIES}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 39. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Offences}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Every perso}{ \fs24\lang2057\langfe5129\langnp2057\insrsid6717387\charrsid745444 n commits an offence against thi}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 s Act who - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Fails to apply for registration}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 as required under this Act; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Refuses or fails to furnish any return or information as and when required by this Act, or any regulations made under this Act or by the Collector; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) Makes any false return, false statement or false declaration}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 or gives any false information, knowing it to be false or being reckless as to whether it was false, or intentiona lly misleads or attempts to mislead the Collector in relation to any matter under this Act; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) Knowingly falsifies any records required to be kept under this Act; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (e) Knowingly issues any incorrect tax invoice; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (f) Knowingly misrepresents that an amount is payable as tax under this Act in respect of a supply; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (g) Receives or deals with goods or services, if the person knows or has reason to believe that the tax payable on the supply of the goods or services has been or will be evaded; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (h) Obstructs any officer of the Department acting in discharge of that officer's duties or the exercise of that officer's power under this Act; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) Fails to keep or properly maintain records of a taxable activity carried on by the person as required under this Act; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (j) Knowingly breaches the provisions of this Act prohibiting the issue of multiple tax invoices, credit notes or debit notes; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (k) fails to provide another registered person with a t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid6717387\charrsid745444 ax invoice as required under thi}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 s Act; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 l}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ) Aids, abets, incites, or conspires with any other person to commit any offence against this Act or against any regulations made under this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Every person who commits an offence against paragraph (i) or paragraph (k) of subsection (1) will be liable to fine not exceeding $500 for the first such conviction, to a fine not exceeding $1,000 for the se}{\fs24\lang2057\langfe5129\langnp2057\insrsid13122660\charrsid745444 cond such conviction and to a fin}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 e not exceeding $4,000 for each subsequent such conviction. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Every person who commits an offence against paragraph (b) of subsection (1) will be liable to a fine not exceeding $500 for each month of the default for the first time upon which the person is convicted of such an offence and for a fine not exceeding $1,000 for each month of default for the second and subsequent occasions on which the person is convicted of such an offence. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) Every person who commits an offence against this Act for which no other penalty is prescribed will be liable for a fine not e xceeding $2,000 for the first such conviction and for a fine not exceeding $4,000 for each subsequent such conviction. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) Every person who commits an offence agains}{\fs24\lang2057\langfe5129\langnp2057\insrsid6517859\charrsid745444 t paragraph (1) of subsection (l}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ) will be liable to a fine not exceeding the maximum fine app}{\fs24\lang2057\langfe5129\langnp2057\insrsid6517859\charrsid745444 licable to the resultant offence}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 committed by the person aided, abetted, incited, or conspired with. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 40. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Officers and employees of corporate bodies}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - Directors, secretaries, statutory officers, receivers, managers of any property of or liquidators of a corporate body commit an offence against this Act if, being responsible for furnishing to the Collector any information or statement or return under this Act, they fail to furnish that information or statement or return to the Collector within the time r equired under this Act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 41. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Proceedings}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Proceedings for offences under this Act will be taken by way of prosecution in the High Court upon the information of the Collector. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Any information may charge the defendant with any number of offences against the Act if those offences are founded on the same set of facts or are of the same or similar character. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Where any informatio}{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 n charges more than one such offe}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 nce, particulars of each offence charged will be set out separately in the information. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) All such charges will be heard together unless the Court, either before or at any time during the hearing, considers it just that any charge should be heard separately and makes an order to that effect. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) Notwithstanding anything in any other Act, a ny information in respect of any offence against this Act or against any regulations made under this Act may be laid at any time within 10 years after the end of the monthly return period in which the offence was committed. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 PART XI \par }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 GENERAL PROVISIONS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 42. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Keepi}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 ng}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 of records}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) In thus section, the term "records" includes books of account (whether manual, mechanical or electronic) and tax invoices, credit notes, debit notes and such other documents as are necessary to verify the entries in the books of account. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Without limiting the generality of subsection (l), the records required to be kept under this section will contain - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) A record of all goods and services supplied by or to the registered person showing the goods and services, and the suppli ers or their agents, in sufficient detail to enable the goods and services and the suppliers or their agents to be readily identified by the Collector; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The system and programme documentation which describes the accounting system used. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Subject to this section, every registered person who supplies in the Cook Islands goods and services will keep in the Cook Islands sufficient records to enable ready ascertainment by the Collector }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 of}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the registered person's liability to tax and will retain in the Cook Islands all such records for a period of at least 5 years after the end of the monthly return period to which they relate. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) The Collector may on application in writing authorise a registered person to keep the records outside the Cook Islands. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) This section will not require the retention of records - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) In respect of which the Collector has given notice in writing that retention is not required: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Of a company which has been liquidated. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) The Collector may, by notice in writing given before the expiry of the 7 year retention period specified in subsection (3), require a registered person to retain the records specified for a further period not exceeding 3 years if - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The affairs of the registered person are under investigation by the Collector; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The Collector intends to conduct such an investigation or is actively considering such an investigation. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 43. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Agreement to defeat the intention and application of Act to be void}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Notwithstanding anything in this Act, where the Collector is satisfied that an arrangement has been entered into to defeat the intent and application of this Act or }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 of}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 any provision of this Act, the Collector will treat the arrangement a s void for the purposes of this Act and will adjust the amount of tax payable by any registered person (or refundable to that person by the Collector) who is affected by the arrangement, whether or not the registered person is a party to the arrangement, in such manner as the Collector considers appropriate so as to counteract any tax advantage obtained by the registered person from or under the arrangement. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) For the purposes of this section - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Arrangement" means any contract, agreement, plan or unders tanding including all steps and transactions by which it is carried into effect: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "Tax advantage" includes }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Any reduction in the liability of a registered person to pay tax: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Any increase in the entitlement of a registered person to a refund of tax: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) Any reduction in the total consideration payable by a person in respect of any supply of goods and services. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 44. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Liability for tax payable by company left with insufficient assets}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) This section will apply if - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) An arrangement (as defined in section 44(2)) has been entered into in relation to a company; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) An effect of the arrangement is that the company is unable to satisfy a liability to tax under this Act, whether the liability exists at the time of entry into the arrangement or subsequently; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) It can reasonably be concluded that - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) A director of the company at the time of entr y into the arrangement who had made all reasonable enquiries would have anticipated that the tax liability would be, or would likely to be, required to be satisfied by the company; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid14508444\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) A purpose of the arrangement was to have the effect referred to i n paragraph (b) of this subsection. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) This section will not apply to an arrangement to which the Collector is a}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 party. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) If an arrangement to which this section applies has been entered into, all persons who were directors of the company at the time the arrangement was entered into will, subject to this section, be jointly and severally liable for the tax liability as agent of the company. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) If an arrangement to which this section applies has been entered into, a}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 person who - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Together with per sons related to that person (whether by blood, marriage or ownership), controlled the company at the time the arrangement was entered into; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Had an ownership interest (direct or indirect) in the company at the time the arrangement was entered into a nd who, it could reasonably be concluded, having regard to the materiality of a benefit derived by the person from the arrangement, was a party to the arrangement, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 will be liable as agent for the company for the tax liability to the extent that the tax liability is no greater than the market value of the person's direct or indirect interest in the company at the time of entry into the arrangement and the value of any benefit derived by the person from the arrangement (whichever is larger). \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) A director will not be liable under this section for a tax liability of a}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 company if the Collector is satisfied that the director derived no benefit from the arrangement and either notified the Collector of the arrangement and the application of this section to the arrangement in writing at the first reasonable opportunity after the director became aware of the arrangement or had no knowledge of the arrangement. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) Subject to section 46, but notwithstanding any other provision of this Act, the Collector may at any time after the liquidation of a company make or amend any assessment of }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13006422\charrsid745444 the company under this Act as i}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 f the company had not been liquidated, in order to give effect to this section. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (7) If the Collector makes an assessment after liquidation of a company, the}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Collector will nominate one or more persons whom the Collector considers to be liable under this section in respect of the tax liability specified in the assessment and each such person will be treated for the purposes of this Act and the Income Tax Act 1997 as the agent of the company. \par \par 45. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Inspection of documents, inquiry}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - The provisions of sections 219 to 223 (both inclusive) of the Income Tax Act 1997 shall apply as if they were incorporated in and formed part of this Act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 46. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Limitation period}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - Any amount of value added tax imposed by this Act will be assessed within 7 years after the monthly return was filed or within three years of the due date prescribed for the filing of the said return, whichever is later, and no proceeding in Court}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 witho ut assessment for the collection of any such taxes shall be begun alter the expiration of such period, provided that: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) In the case of a false or fraudulent return with intent to evade tax, or of a failure to file the monthly return, the tax may be assessed or levied at any time. However, in the case of a return claimed to}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 be false or fraudulent with intent to evade tax, the determination as to the claim must first be mad}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 e by a Judge of the High Court; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Where, before the expiration of the period pres cribed in this section, both the Collector and the taxpayer have consented in writing to the assessment of the tax after the expiration of the period, the tax may be assessed at any time prior to the expiration of the period agreed upon. The period so agr eed upon may be extended by subsequent agreement in writing made before the expiration of the period previously agreed upon. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 47. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Regulations}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14559855\charrsid745444 (1) The Queen's Representative m}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ay from time to time, by Order in Executive Council, make all such regulations as , in his opinion, may be deemed necessary or expedient for giving effect to the provisions of this Act and for the due administration thereof}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Without limiting the general power to make regulations conferred by subsection (1) of this section, it is he reby declared that regulations may be made under this section prescribing forms and rules or procedure for the ascertainment, assessment and collection of taxes imposed under this Act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) All regulations made under this section shall be laid before the Legislative}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Assembly within 28 days after the making thereof, if the Legislative Assembly is then in session, and if not, shall be laid before the Legislative Assembly within 28 days after the commencement of the next ensuing session. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 47A. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Tax to be included in prices}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - a registered person shall include the amount of value added tax in prices of goods or services notified, advertised or displayed, and shall state that such prices are inclusive of value added tax. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 PART XII \par }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 TRANSITIONAL PROVISIONS AND REPEALS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 48. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Effect on supply price of 1997 introduction of tax}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 (1}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ) If - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) A supply of goods or services has become subject to value added tax as a result of this Act; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The parties to the supply have not expressly agreed that this subsection will not apply; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) The agreement between the parties for the making of the supply is entered into before the 30th day of June 1997, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the registered person making the supply may increase the agreed price for the supply by the amount of tax payable in respe ct of the supply, to the extent to which that tax exceeds the turnover tax (if any) which would have been payable, in respect of the supply but }{\fs24\lang2057\langfe5129\langnp2057\insrsid7550243\charrsid745444 for the repeal of the Turnover }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Tax Act 1980 by this Act, and may recover it from the acquirer of the goods or services. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) A fee, charge or other amount is payable under an act or regulation; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The supply to which the fee, charge or other amount relates}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13006422\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 becomes subject to value added tax as a result of this Act; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) It is not expressly provided that the fee, charge or other amount is inclusive of value added tax; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14508444 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) The fee, charge or other amount was determined before 1 July 1997,}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13923730\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 the fee, charge or other amount will be treated as if increased by the amount of the tax payable in respect of the supply, to the extent to which that tax exceeds the turnover tax (if any) which would have been payable in respect of the supply but for the repeal of the Turnover Tax Act 1980 by this Act, and the increase may be recovered from the acquirer of the goods or services. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 49. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Effect on trading stock or stationery held of 1997 introduction of tax}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 (1}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ) Subject to subsection (2) of this section, a re gistered person may, in calculating the amount of the value added tax payable by the person, deduct an amount equal to turnover tax paid, if any, at the rate of either 10% or 1% whatever the case may be under the Turnover Tax Act 1980 on sale to the regis tered person o}{\fs24\lang2057\langfe5129\langnp2057\insrsid6442778\charrsid745444 f trading stock or stationery h}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 eld or of services supplied to the person that are attributable to any period after 1 July 1997 by the person on 1 July 1997 wholly for the purpose of making taxable supplies. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) No person may deduct under s}{\fs24\lang2057\langfe5129\langnp2057\insrsid9532418\charrsid745444 ubsection (1) of this section an}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 amount from the person's tax liability for any monthly return period ending after 30 September 1997. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) A registered person entitled to a deduction against value added tax under this section will disclose to the Department w ith the person's return for each month in which a claim for a deduction is made - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The total gross proceeds of sale for the purposes of turnover tax of trading stock or stationery in respect of which the deduction is claimed; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) The total amount of the deduction t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 o which the person is entitled; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) The total amount, if any, claimed as a deduction in previous returns; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (d) The amount claimed as a deduction in the current return. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 50. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Effect on turnover tax liabilities of 1997 introduction of tax}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) If a person -}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Is a registered wholesale purchaser on 30 June 1997; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Is not a registered person under this Act on 1 July 1997, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 any goods forming part of the person's business in the Cook Islands at midnight on 30 June 1997 will be dee med for the purposes of the Turnover Tax Act 1980 to have been supplied immediately before midnight on 30 June 1997, for an aggregate consideration determined under subsection (3) of this section. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) A person who is liable for turnover tax under subsection (1) will - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) Disclose to the Department in the return for the month ending on 30 June 1997 the gross proceeds of sale deemed to arise under subsection (1) o}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 f}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 this section and the total turnover tax payable as a result of subsection (1) of this section; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Remit to the Department, in the form required by section 38 of the Turnover Tax Act 1980, the turnover tax payable under subsection (1) of this section by paying - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) A first instalment of one-third of the turnover tax by 20 July 1997; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) A second instalment of one-third of the turnover tax by 20 August 1997; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (iii) A Final instalment of one-third of the turnover tax by 20 September 1997. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) The aggregate consideration in respect of goods forming part of the person's business in t he Cook Islands that are deemed under subsection (1) of this section to be supplied will, at the election of the person, be equal to either - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) The aggregate open market value of goods; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) An amount equal to }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 e greater of}{\fs24\lang2057\langfe5129\langnp2057\insrsid13923730\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) The aggregate gross proceeds of sale (as that term is}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13700138\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 defined in the Turnover Tax Act 1980, excluding any amount deemed to be received under subsection (1) of this section) of the business for the three months ending 30 June 1997; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) The total cost of all goods acquired by the person, for the principal purpose of the business of selling any tangible personal property, in the three months ending on 31 July 1997. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) The obligations and liabilities under the Turnover Tax Act 1980 o f any person in respect of anything done, or omitted to be done, by that person while that person was liable to pay turnover tax will not be affected by the fact that the person ceases to be so liable as a result of this Act. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) This section applies with effect from the date on which this Act comes}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 into force. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 51. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Registration of pers}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid9532418\charrsid745444 ons liable to be registered on 1}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 July 1997}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - Notwithstanding anything in section}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 12, every person who, on or bef}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 or}{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 30 June 1997, knows, or could with reasonable diligence have known, that the person will be liable to be registered fr}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9177320\charrsid745444 om 1 July 1997 under section 12,}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 will apply in the prescribed form for registration before 30 June 1997, and the Collector will register that person under section 12. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 52. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Supplies prior to 1 July 1997}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) For the purposes of this section, the expression "time of performance" means, - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) In relation to a supply of goods, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) If the goods are to be removed and the property in those goods will pass from the supplier to the recipient, the earlier of the time of the removal and the time that that property passes: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) If the goods are to be removed but property in the goods will not pass from the supplier to the recipient, the time of the removal: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (iii) If the goods are not to be removed, the time they are made available to the recipient: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (iv) if the goods (being sent or taken on approval, sale or return or similar terms) are removed before it is known whether a supply will take place, the time when it becomes certain that the supply has taken place; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) In relation to a supply of services, the time when the services are performed. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) If a registered person supplies services under an agreement or enactment and the agreement or enactment expressly or impliedly provides that, for and in respect of any period, - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) A right is to be granted or exercisable or anything is to be done or omitted to be done; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid2238826\charrsid745444 b) A payment is due, or may be }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 made; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (c) The agreement is enforceable or will have effect, - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 those services will for the purposes of subsection (1)}{\fs24\lang2057\langfe5129\langnp2057\insrsid15616232\charrsid745444 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) be treated as if performed by the registered person continuously and uniformly during the whole of that period. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) If services are supplied under an agreement or enactment which provides that any right is to be granted or exercisable by an individual for a period which will end with the termination of the life of the individual and there is a single non-refundable payment as consideration, the services will, for the purposes of subsection (1)}{\fs24\lang2057\langfe5129\langnp2057\insrsid13006422\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b), be deemed to have been performed at the earlier of the time the right is granted by the supplier or at the time that it first becomes exercisable. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) Notwithstanding anything in this Act, for the purposes of subsection (1), goods supplied under an agreement to hire will be deemed to be a supply of services. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) Notwithstanding anything in section 5, if and to the extent that the time of performance of any supply of goods and services - \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (a) is before 1 July 1997 and that supply would, but for this section, be deemed by section 5 to take place on or after 1 July 1997, and the value of the supply is ascertainable, the time of performance will, for the purposes of this Act, be treated as being the time when the supply of the goods and services takes place: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (b) Is on or after 1 July 1997, and that supply would, but for this section, be deemed by section 5 to take place before 1 July 1997,}{\fs24\lang2057\langfe5129\langnp2057\insrsid11472967 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (i) The time of performance will, f or the purposes of the imposition of value added tax under section 10, be treated as being the time when the supply of the goods and services takes place; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (ii) For the purposes of section 16, the time when the supply of those goods and services is}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13700138\charrsid745444 made will be treated as being 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 July 1997. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 53. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Repeals and savings}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) The Turnover Tax Act 1980 is repealed. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) The Stamp and Cheque Duties Act 1971-72 is repealed with respect to instruments executed on or after 1 July 1997. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) The Overseas Exchange Fees Act 1975 is repealed with effect from 1 July 1997. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (4) The Private Import Tax Act 1984 is repealed with respect to goods cleared through Customs on or after 1 July 1997. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (5) The Rarotonga Entertainment Tax Act 1975 is repealed with respect to entertainment provided on or after 1 July 1997. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (6) Without limiting the provisions of the Acts Interpretation Act 1924, it is hereby declared that the repeal of the Ac}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13700138\charrsid745444 ts referred to in subsections (1}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ) to (5) inclusive ("the Acts") sha ll not (except as otherwise provided in this Act) affect the validity of any document made or anything done under the provisions of the Acts, and every such document or thing so far as it is subsisting or in force at the time of the repeal of the Acts, an d could have been made or done under this Act shall continue and have effect as if it shall have been made or done under the corresponding provisions of this Act and as if that provision were in force when the document was made or the thing done. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 54. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Consequential amendments to the Customs Act 1913}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 - (1) Section 2 of the Customs Act 1913 is amended by adding at the end of the definition of "Duty" the following words: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "and value added t}{\fs24\lang2057\langfe5129\langnp2057\insrsid13700138\charrsid745444 ax imposed by the Value Added T}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ax Act 1997." \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1463261 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) A new section 126A is inserted as follows: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 "126A. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 Deferral of Payment of Value Added Tax}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid13923730\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid13700138\charrsid745444 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (1) The Comptroller may, subject to such conditions as the Comptroller may impose to ensure compliance with this Act and to protect the revenue of the Customs, grant approval to persons allowing such persons to defer payment of the value added tax component of the duty due under section 126. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (2) Where approval has been given under subsection (1), the due date for payment of any value added tax due under section 126 shall be 20 days after the end of the month during which it would otherwise have become payable, unless that day is not}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 a working }{\fs24\lang2057\langfe5129\langnp2057\insrsid5787272\charrsid745444 day in which case the payment m}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 ust be made on the next working day following that 20 day period. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid4538006\charrsid745444 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13700138 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 (3) Where any such debt is not paid by the approved person by the due date pursuant to subsection (2), the Comptroller may suspend or withdraw the approval, or may vary the conditions under which the approval was given." \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid9790832\charrsid745444 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9189002 {\fs24\lang2057\langfe5129\langnp2057\insrsid16000597\charrsid745444 This Act is administered by the Revenue Management Division}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13700138 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013 _______ \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 FIRST SCHEDULE \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 Section 10(3)(a) \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 Exempt Supplies \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par Financial services, being any one or more of the following services: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (a) Exchanging currency; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (b) Issuing, paying, collecting or transferring ownership of a cheque or letter of credit; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (c) Issuing, allotting, transferring ownership of, renewing or varying a debt instrument, a share in the capital of a company, an interest in a unit trust or similar contributory scheme, or any interest in such property; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (d) Underwriting the issue of a debt instrument, share in the capital of a company or interest in a unit trust or similar contributory scheme; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (e) Providing credit or varying a contract for the provision of credit; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (f) Providing, taking, varying or releasing a guarantee, indemnity, security or bond in respect of the performance of obligations under a cheque, letter of credit, debt instrument, share in the capital of a company, interest in a unit tr ust or similar contributory scheme, or contract for the provision of credit; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (g) Providing, or transferring ownership of, a life insurance contract or a life reinsurance contract; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (h) Providing, or transferring ownership of, an interest in a superannuation scheme; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (i) Providing, or transferring ownership of, a futures contract through a recognised futures exchange; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (j) Paying or collecting any amount of interest, principal, dividend or other amount in respect of any debt instrument, share in the capital of a company, interest in a unit trust or similar contributory scheme, contract for the provision of credit, life insu rance contract, interest in a superannuation scheme or futures contract; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (k) Agreeing to do, or arranging, any of the services specified in the preceding paragraphs of thus section, other than merely advising on those services. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par 2. A supply of donated goods or services by a non-profit body. \par \par 3. Departure Tax collected under the International Departure Tax Act 1984. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 _________ \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 SECOND SCHEDULE \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 Section 10(3)(b) \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 Exempt importations \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par 1. Passengers' baggage and personal effects admitted free of duty and import levy under references 85, 86 and 87 of the Customs Tariff Act 1980 and section 7A of the Cook Islands Amendment Act 1981: \par \par 2. Goods admitted free of duty and import levy and entered into a Customs Bonded Warehouse under the Customs Tariff Act 1980: \par \par 3. Containers containing goods, being ordinary trade containers for packing of goods; or \par \par 4. Goods imported by: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (a) any overseas government for use by it in the Cook Islands whether in an office established by it or in any approved aid project; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (b) the United Nations, South Pacific Forum Secretariat or the South Pacific Commission or any agency of those organisations for an approved project in the Cook Islands; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (c) any other overseas agency for use in any approved project in the Cook Islands; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (d) the University of the South Pacific for use at its centre on Rarotonga. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par 5. Goods which the Collector is satisfied are: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (a) bona fide gifts from abroad to persons in the Cook Islands which have a value of less than $40 in aggregate; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (b) heirlooms; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (c) trophies, prizes, medals and the like awarded to individuals and donated by persons resident abroad; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (d) goods imported by an approved organisation, being gifts by persons resident abroad for the relief of victims of natural disasters; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (e) goods temp orarily imported under the Customs Act 1913, and any regulations made under that Act; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (f) goods imported by the Queen's Representative and entitled to be entered free of duty under the Customs Act 1913. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par 6. Goods imported on or before 30 June 2002 consisting of: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (a) preparations of a kind used in animal feeding falling within heading 23.09 of the Cook Islands Customs Tariff and not being dog or cat food; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (b) fertilisers falling under Chapter 31 of the Cook Islands Customs Tariff. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 _________ \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 THIRD SCHEDULE \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 Section 11(2) \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 Zero-rated supplies \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par 1. Any supply of goods if the registered person - \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (a) exports the goods from the Cook Islands in the course of the supply; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (b) satisfies the Collector that the goods have been exported from the Cook Islands by the registered person; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (c) satisfies the Collector that the goods have been supplied to a person for consumption or use outside the Cook Islands (including as stores on departing ships or aircraft or where the acquirer of the goods is a departing sea or air traveller); or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (d) sells the, goods, to an air traveller arriving in the Cook Islands, within an area under the control of the Collector of Customs as a customs examining place under the Customs Act 1913; - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par Provided that this paragraph will not apply to a supply of goods by a registered person - \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (e) Being goods in respect of which a deduction under section 16(4)(c) of this Act has been allowed to the registered person; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (f) Being goods which have been or will be reimported into the Cook Islands by the supplier. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par 2. Any supply of goods situated outside the Cook Islands at the time of supply. \par \par 3. Any supply of services being the transportation of passengers or goods (including ancillary insurance) - \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (a) from the Cook Islands to a place outside the Cook Islands; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (b) from a place outside the Cook Islands to the Cook Islands; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (c) within the Cook Islands in respect of the transportation of passengers or goods by air or sea. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par 4. Any supply of services physically performed outside the Cook Islands. \par \par 5. Any supply of services to a person who is not a resident of the Cook Islands and who is outside the Cook Islands at the time the services are performed, not being services which are supplied directly in conn ection with tangible property situated in the Cook Islands at the time the services are performed. \par \par 5 [sic]. Electricity supplied by Te Aponga Uira to persons being qualifying pensioners as notified by the Ministry of Internal Affairs to Te Aponga Uira from time to time in writing. \par \par 6 [sic]. Any supply of goods made on or before 30 June 2002 consisting of: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (a) preparations of a kind used in animal feeding falling within heading 23.09 of the Cook Islands Customs Tariff and not being dog or cat food; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 (b) fertilisers falling under Chapter 31 of the Cook Islands Customs Tariff. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid4679720 \par }\pard \qc \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16325013 {\fs24\lang2057\langfe5129\langnp2057\insrsid16325013 -------------------------------------}{\fs24\lang2057\langfe5129\langnp2057\insrsid16325013\charrsid745444 \par }}