HC Deb 13 December 1994 vol 251 c790
- (1) The Value Added Tax Act 1994 shall be amended as follows.
- (2) In section 2 (rate of VAT) in subsection (1) the words "and paragraph 7 of Schedule 13" shall be omitted, and the following subsections shall be inserted after that subsection—
- "(1A) VAT charged on—
- (a) any supply for the time being falling within paragraph 1 of Schedule A1; or
- (b) any equivalent acquisition or importation, shall be charged at the rate of 8 per cent.
- (1B) The reference in subsection (1A) above to an equivalent acquisition or importation, in relation to any supply for the time being falling within paragraph 1 of Schedule Al, is a reference (as the case may be) to—
- (a) any acquisition from another member State of goods the supply of which would be such a supply; or
- (b) any importation from a place outside the member States of any such goods.
- (1C) The Treasury may by order vary Schedule Al by adding to or deleting from it any description of supply for the time being specified in it or by varying any other provision for the time being contained in it."
- (3) The following Schedule shall be inserted immediately before Schedule 1—