Amendments Nos. 30 and 31 are related and may be discussed together.
SECTION 12.
I move amendment No. 30:
In page 15, line 50, after "supplies" to insert ", whether made before, on or after the specified day,".
These amendments add to the provision relating to the cash receipts basis of accounting which are being presented in a slightly changed legal formulation by section 12 of the Bill, a phrase contained in the present provisions relating to cash receipts. The phrase, which is at present contained in section 2 (2) of the VAT Act which is being repealed specifies that where a person opts for paying tax by reference to cash receipts he is liable on all moneys received from the relevant activity whether the transaction to which the money relates took place before, on or after the date of commencement of the tax.
Amendment agreed to.
I move amendment No. 31:
In page 16, line 5, after "supply" to insert ", whether before, on or after the specified day,".
Amendment agreed to.
Section 12, as amended, agreed to.