The Value Added Tax (Importation of Investment Gold) Relief Order 1999

Statutory Instruments

1999 No. 3115

VALUE ADDED TAX

The Value Added Tax (Importation of Investment Gold) Relief Order 1999

Made

19th November 1999

Laid before the House of Commons

22nd November 1999

Coming into force

1st January 2000

The Treasury, in exercise of the powers conferred on them by section 37(1) of the Value Added Tax Act 1994(1) and section 13(3) and (4) of the Finance Act 1999(2) and of all other powers enabling them in that behalf, hereby make the following Order:

1.  This Order may be cited as the Value Added Tax (Importation of Investment Gold) Relief Order 1999 and shall come into force on 1st January 2000.

2.  In this Order–

• “Investment gold” has the same meaning as in Group 15 of Schedule 9 to the Value Added Tax Act 1994.

3.  VAT shall not be chargeable on the importation of investment gold from places outside the member States.

Bob Ainsworth

David Jamieson

Two of the Lords Commissioners of Her Majesty’s Treasury

19th November 1999

Explanatory Note

(This note is not part of the Order)

This Order, which comes into force on 1st January 2000, implements the exemption for importations of investment gold as required by Council Directive 98/80/EC, 12th October 1998—Special scheme for investment gold—amending Council Directive 77/388/EEC.

Article 2 defines investment gold as having the same meaning as in Group 15 of Schedule 9 to the Value Added Tax Act 1994.

Article 3 relieves investment gold from VAT when it is imported into the United Kingdom from a place outside the member States.

(1)

1994 c. 23.

(2)

1999 c. 16.