Revenue Tax Briefing

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Revenue Tax Briefing Issue 30, February 1998

Margin Scheme Goods*

If the purchase is made by the dealer from any of the following:

  • A private individual
  • A VAT exempt trader
  • A taxable trader who was not entitled to deduct tax under Section 12 on the acquisition of the goods
  • Another dealer selling margin scheme goods

The dealer is not entitled to claim input credit but is only liable to account on his margin when the item is resold.

Footnote

*Margin Scheme Goods are defined in Section 10A, VAT Act 1972 as amended.