Commentary

V3.464B Input tax attributable to supplies of investment gold

Part V3 Supplies, acquisitions and imports

V3.464B Input tax attributable to supplies of investment gold

V3.464B Input tax attributable to supplies of investment gold

Article 26B of the 6th Directive1 introduced, with effect from 1 January 2000, a special scheme for investment gold2. The scheme provides, inter alia, for the recovery of input tax on certain costs in relation to exempt3 supplies of investment gold. The purpose of the scheme is to remove the disincentive in investing in gold (compared with other forms of investments) which arises as a result of the taxable costs involved in the production of investment gold4.

Regulations5 made under VATA 1994 s 26(1) provide that input tax incurred by a taxable

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