Clause 5

by inserting, immediately after subsection (2A), the following subsections:“(2B) For the purposes of this Act, goods imported by a taxable person as agent for a person who is not a taxable person and supplied by a substituted agent as agent for the person who is not a taxable person may be treated as imported by the taxable person as principal and supplied by the substituted agent as principal.(2C) For the purposes of subsection (2B), unless the Comptroller otherwise allows, goods supplied by the substituted agent for a person who is not a taxable person shall not include goods which, following their import, undergo a treatment or process.(2D) For the purposes of subsections (2) and (2B), where the taxable person or the substituted agent, as the case may be, ceases to be a taxable person before making a supply of the goods, and any credit for input tax has been allowed to the taxable person on the importation of the goods —

in the case of subsection (2), the taxable person shall pay to the Comptroller the amount of the credit; and

in the case of subsection (2B), the substituted agent shall pay to the Comptroller the amount of the credit.”;

by deleting the words “subsection (2)” in subsection (3) and substituting the words “subsections (2) and (2B)”;

by deleting the word “and” at the end of subsection (5)(a);

by deleting the full-stop at the end of subsection (5)(b) and substituting the word “; and”; and

by inserting, immediately after paragraph (b) of subsection (5), the following paragraph:“(c) “substituted agent” means a taxable person who —

is appointed as agent by the person referred to in subsection (2B) who is not a taxable person, to take custody of the goods imported by the taxable person referred to in that subsection; and

has informed the Comptroller, in such form and manner as the Comptroller may require, of his appointment.”.