I move Financial Resolution No. 17:
(1) THAT in this Resolution—
"the Principal Act" means the Value-Added Tax Act, 1972 (No. 22 of 1972);
"the Act of 1990" means the Finance Act, 1990 (No. 10 of 1990).
(2) THAT—
(a) the rate of value-added tax on certain goods and services at present chargeable at the rate of 12.5 per cent. be increased to 16 per cent. of the taxable amount or value, as the case may be, in respect of which tax is chargeable in relation to those goods and services, and
(b) the rate of value-added tax on livestock be increased from 2.3 per cent. to 2.7 per cent. of the taxable amount or value of such goods, and
that, accordingly, the Principal Act be amended—
(i) in subsection (1) of section 11 (inserted by the Finance Act, 1985 (No. 10 of 1985))—
(I) by the substitution of the following paragraph for paragraph (c) (as amended by the Finance Act, 1991 (No. 13 of 1991)):
"(c) (i) 12.5 per cent. of the amount on which tax is chargeable in relation to the supply of goods or services of a kind specified in subparagraphs (a), (aa), (b) and (c) of paragraph (i), paragraphs (xia) to (xif) and paragraphs (xiiif), (xiiih), (xiiij) and (xiv) of the Sixth Schedule,
(ii) 16 per cent. of the amount on which tax is chargeable in relation to the supply of goods or services of a kind specified in the Sixth Schedule other than those to which subparagraph (i) of this paragraph relates, and",
and
(II) by the substitution, in paragraph (d), of "2.7 per cent." for "2.3 per cent." (inserted by the Act of 1990),
and
in paragraph (i) of the Sixth Schedule—
(I) by the insertion in subparagraph (b) after "not including" of "gas of a kind specified in subparagraph (bi),", and
(II) by the insertion of the following subparagraph after subparagraph (b):
"(bi) motor vehicle gas within the meaning of section 42 (1) of the Finance Act, 1976,".
(3) THAT the rate of flat-rate addition to prices of agricultural produce or agricultural services supplied by unregistered farmers be increased from 2.3 per cent. to 2.7 per cent., and
that, accordingly, section 12A (inserted by the Value-Added Tax (Amendment) Act, 1978 (No. 34 of 1978)) of the Principal Act be amended by the substitution in subsection (1) of "2.7 per cent." for "2.3 per cent." (inserted by the Act of 1990).
(4) THAT this Resolution shall have effect as on and from the 1st day of March, 1992.
(5) IT is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1927 (No. 7 of 1927).
This resolution provides for an increase in the rate for the supply of certain goods and services from 12.5 per cent to 16 per cent, an increase from 2.3 per cent to 2.7 per cent in the flat rate compensation for farmers, together with a similar increase in the VAT rate on livestock. These changes will have effect as from 1 March 1992.