Cap. 395 ст. 34Particulars to be furnished and prepared where change in accounting basis takes place.

(1) Where the Director directs a change in a registered person’s accounting basis in accordance with article 33, the registered person shall furnish to the Director in the prescribed form, particulars to enable the calculation of tax payable in consequence of the change in the basis of accounting.

(2) The particulars required to be furnished under subarticle (1) shall be furnished to the Director not later than the last day for furnishing a return pursuant to article 31(1) of the Act for the tax period preceding that in which the direction of the Director takes effect.

(3) Where the Director directs a change in a registered person’s accounting basis under article 33, the registered person shall prepare -

(a) a list of his creditors in relation to that person’s business activity, showing the amounts due by him as at the last day of the tax period preceding that in which the direction takes effect; and

(b) a list of his debtors in relation to that person’s business activity, showing the amount due to him as at the last day of the business activity in which the direction takes effect.