(758) 468-3200
Government Saint Lucia
 
 
 
Home
/
Departments
/
Legislative Drafting
/
Revised Laws of Saint Lucia
/
VALUE ADDED TAX ACT
/
18.   Time of supply

Revised Laws of Saint Lucia (2021)

saint Lucia
back arrow Back to Revised Laws of Saint Lucia (2021)
back arrow Back to Table of Contents

18.   Time of supply

  1.  

    (1)   Subject to this Act, a supply of goods or services occurs on the earliest of the date on which —

    1.  

      (a)     the goods are delivered or made available or the performance of services is completed;

    1.  

      (b)     an invoice for the supply is issued by the supplier; or

    1.  

      (c)     any consideration for the supply is received.

  1.  

    (2)   A supply of goods under a credit agreement occurs on the date of commencement of the credit agreement.

  1.  

    (3)   A supply of goods under a lay-away agreement occurs when the goods are delivered to the purchaser.

  1.  

    (4)   A supply of goods or services under section 4(6) occurs when the goods or services are applied to a different use.

  1.  

    (5)   A supply of goods under section 4(7) occurs when the goods are repossessed, or where the debtor may under any law be reinstated in his or her rights and obligations under the credit agreement, the day after the last day of any period during which the debtor may under such law be so reinstated.

  1.  

    (6)   A supply of services under section 4(8) occurs when the seller obtains the right to retain any amount paid by the purchaser or when the seller recovers any amount owing by the purchaser under the agreement.

  1.  

    (7)   A supply for a consideration in money received by the supplier by means of a machine, meter, or other device operated by coin, note, or token occurs when the coin, note, or token is taken from that machine, meter, or other device by or on behalf of the supplier.

  1.  

    (8)   Goods supplied under a rental agreement or services supplied under an agreement that provides for periodic payments are treated as successively supplied for successive parts of the period of the agreement, and each of the successive supplies occur when a payment becomes due or is received, whichever is the earlier.

  1.  

    (9)   Where —

    1.  

      (a)     goods described under section 4 (1)(a)(iii) are supplied; or

    1.  

      (b)     goods or services are supplied directly in the construction, major reconstruction, manufacture, or extension of a building or engineering work,

and the consideration becomes due and payable in installments or periodically, the goods or services are treated as successively supplied for each period to which a payment for the goods or services relates and each successive supply occurs when payment in respect of the supply becomes due, or is received, or any invoice relating only to that payment is issued, whichever is the earliest.

  1.  

    (10)   A supply under section 4(18) occurs when the supply under section 4(2), to which it relates, occurs.

  1.  

    (11)   To the extent that the issuance of a token, voucher, gift certificate, or stamp is a supply under section 4(19), the supply occurs when the token, voucher, gift certificate, or stamp is issued.

  1.  

    (12)   The forfeit of a deposit, other than a deposit on a returnable container, is a supply of services when the deposit is forfeited.

  1.  

    (13)   A supply under section 4(21) occurs at the time the registration is cancelled.

  1.  

    (14)   The Minister may by Regulations prescribe rules to determine the time of a supply of particular goods or services which are not governed by this section.

Address

2nd Floor Francis Compton Building, 
Waterfront,
Castries, Saint Lucia

Need help?

Site Map

HomeAbout AG OfficeDepartmentsAccessibilityContact Us

Quick Links

Inland Revenue Department of Government of Saint Lucia (IRD)Government of Saint Lucia Citizenship by Investment Financial Intelligence Authority

Important Links

CARICOMOECSFSRA
 
© 2024 Attorney General's Chambers
Site by