Value Added Tax Act 1994 section 18B

Modification of section 18B

Section 18B(5), which deals with relief for fiscally warehoused goods, is modified to extend certain VAT registration references so that they also cover registration provisions within Schedule 9ZA.

• Section 18B provides relief from VAT on goods held in fiscal warehousing in certain circumstances.
• Subsection (5) of section 18B originally referred only to Schedule 1 (which covers standard VAT registration thresholds) when determining whether a person is liable to be registered for VAT.
• The modification extends this reference so that it also includes paragraphs 38(6) and 48(7) of Schedule 9ZA, which contain additional registration provisions relating to supplies of goods under the new Schedule 9ZA framework.
• The effect is that the fiscal warehousing relief in section 18B now takes into account registration obligations arising under any of those provisions — Schedule 1 or the relevant paragraphs of Schedule 9ZA.