Cap. 395 чл. 75Power to exempt and make regulations.

(1) The Minister may by regulations -

(a) amend, cancel or substitute any of the Schedules to this Act;

(b) prescribe any matter which may in any particular case be deemed necessary for the purpose of avoiding significant distortions in competition which might otherwise result from the application of any of the provisions of this Act;

(c) make provision for the rounding up or down of any amount in any computation made for any of the purposes of this Act, or for disregarding any small amounts in any such computation;

(d) prescribe any conditions and determination that may, in accordance with this Act, be imposed or made by the Director;

(e) prescribe any other matter for securing the payment of the tax and generally for giving effect to the provisions of this Act;

(f) make provisions for the registration of a number of persons as one person or for a person to be registered separately in respect of different branches or departments of his business activity in such circum-stances and in respect of such provisions as may be Provided that any such matter as aforesaid may, in the discretion of the Minister, be prescribed by Order or Notice in the Gazette.

(2) Without prejudice to the provisions of subarticle (1) the Minister may by regulations also make special provisions with respect to activities to which subarticle (3) refers, and may, by such regulations, make provision:

(a) for a taxable activity to be treated as two or more separate taxable activities or for a number of taxable activities to be treated as a single taxable activity;

(b) for determining the time and place at which taxable activities shall be treated to take place;

(c) for the calculation of tax payable to be determined by such method or one of such methods as may be established by the Director;

(d) for the determination of the deductions and refunds applicable;

(e) for additional records and documents that must be kept and produced in respect of the said business activities;

(f) requiring the means and the machines whereby registered persons are to store, process and produce documents and other information.

(3) The Minister may by Notice in the Gazette exempt any person or class of persons with or without retrospective effect from all or any of the provisions of this Act or make different provisions on any ground which to him may seem sufficient. Any such exemption or different provision may be made subject to such conditions or the payment of such other rate or rates of tax, not being a rate or rates higher than those stipulated by this Act, or to both such conditions and payment, as the Minister may deem appropriate.

SCHEDULES First Schedule

(Article 11) EXEMPT IMPORTATIONS