Article 20 - Date of Supply in specific circumstances

1) In cases where Goods or services are supplied and the Invoice or agreement between the Supplier and Customer states that Consideration is due and payable in periodical installments, a separate Supply in respect of each installment takes place on the earlier of the due date for the payment of that installment or the date of actual payment.

2) In all other cases where Supplies of Goods or services are made on a continuing basis, a separate Supply takes place on the earlier of the date an Invoice is issued or payment is made in respect of those Goods or services, to the extent of the amount invoiced or paid.

3) In the event that no payment has been received or invoice has been issued in relation to continuous Supplies of Goods or services by a Taxable Person, the Supply is deemed to take place on the date falling twelve months after the later of:

a) the date on which the Supply of Goods or services commenced,

b) the previous date on which the Supply took place by reason of an Invoice being issued or payment being made.

4) The Supply of oil, gas, water or electricity through a distribution network which is not made on a continuing basis takes place at the earlier of:

a) the date an Invoice is issued by the Supplier in respect of those Goods,

b) the date that payment is received by the Supplier in respect of those Goods.

5) The Nominal Supply made as a result of the cessation of a Taxable Person’s Economic Activity takes place on the date of deregistration of that Person determined in accordance with the Law and these Regulations.