Legal Notice regarding Refund of Excise Tax

After consultation talks with the constituted bodies, a legal notice has been published regarding the refund of excise tax on trading stock held as at 31st December 1998. The aim of the scheme is to put the value of trading stock existing on 31st December 1998 on the same level of new stocks which were on sale as from 1st January 1999, so as to avoid any increases in prices.

Business operators have two options:

1. The first option is based on stock-taking with refunds being effected in accordance with rates stipulated in the legal notice and according to the classification of products.

2. The second option is based on a formula which regulates payment of refunds in accordance with the established rates in the legal notice and on the basis of the value of input tax refunded to the Government in terms of the Customs and Excise Tax Act 1997. This refund scheme was introduced by the Government following representations made by the constituted bodies. The scheme is based on the criteria which was applied when input tax was refunded to the Government in 1997. Such criteria which were considered appropriate then, and still are, also take into account the fact that a number of products did not remain taxable.

In the case of eligible registered persons who opt for a stock-take, refunds will be made within three months from the date of submission of the application.
When an eligible registered person applies for a refund in terms of the formula stipulated in the legal notice, refund will be effected within fifteen days from the date on which the application is received by the Department, but in any case not earlier than the 1st April 1999.

The same legal notice gives the opportunity to business operators who are debtors to the VAT Department to set off any such debts due to the Department in terms of the VAT Act 1994, the CET Act 1997 as well as the new VAT Act, obviously on payments which are due up to the date on which refunds of excise tax become due for payment.

Avviz Legali dwar hlas lura ta' Taxxa tas-Sisa
Wara diskussjonijiet li saru mal-korpi kostitwiti, gie pubblikat avviz legali dwar il-hlas lura ta' taxxa tas-sisa lill-negozjanti fuq hazniet kummercjali ezistenti fil-31 ta' Dicembru 1998. L-iskop ta' dan huwa biex il-hazniet kummercjali mizmuma fil-31 ta' Dicembru 1998 jitpoggew fl-istess livell tal-hazniet il-godda li bdew jinbighu mill-1 ta' Jannar 1999 sabiex il-prezzijiet ma jizdidux.

L-operaturi tan-negozju qed jinghataw zewg ghazliet:

Fil-kaz ta' dawk il-persuni registrati li huma eligibbli, u li jaghzlu li jaghmlu stock take, il-hlas lura jsir fi zmien tliet xhur minn meta ssir l-applikazzjoni.

Meta persuna registrata eligibbli taghzel li tapplika ghall-hlas lura skond il-formula stabbilita fl-avviz legali, l-hlas lura jsir fi zmien hmistax-il jum mid-data li fiha d-Dipartiment ikun ircieva l-applikazzjoni izda mhux izjed kmieni mill-1 ta' April 1999.

Permezz ta' l-istess avviz legali, qed tinghata l-opportunita' ta' tpacija fil-kaz li xi persuna jkollha debitu mad-Dipartiment tal-VAT ma' kull hlas dovut lid-Dipartiment skond il-VAT ta' l-1994, is-CET ta' l-1997 kif ukoll skond il-VAT il-gdida, ovvjament fuq hlas li jkun dovut sa dak in-nhar li jkollu jsir il-hlas lura tat-taxxa tas-sisa.