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Input tax for land to be used for making exempt supplies

Goods and Services Tax (General) Regulations

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—(1) Where any land, being —(a)vacant land; or(b)land on which any building is to be demolished,is supplied to a taxable person, and it appears to the Comptroller that —(i)the land is to be developed (including by the construction of any building thereon); and(ii)some part or the whole of the land so developed is to be used in the making of exempt supplies,the Comptroller may allow to be attributable to taxable supplies such part of the input tax incurred by the taxable person in respect of the supply to him of the land as bears the same proportion to the whole of that input tax as the value of the area of the developed land to be used in the making of exempt supplies bears to the value of the total area of the developed land.(2) Where any land is supplied to a taxable person with any building thereon which is used or to be used for making exempt supplies, the Comptroller may allow the input tax in respect of only the supply of land excluding the building to be attributable to taxable supplies in accordance with such method as the Comptroller may determine.(3) Every taxable person shall keep such documents in such form as the Comptroller may require for the purposes of supporting any attribution of input tax to taxable supplies under this regulation.(4) In this regulation, “exempt supplies” means the exempt supplies referred to in paragraph 2 of Part 1 of the Fourth Schedule to the Act (read with paragraph 3(3) of Part 3 of that Schedule).

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