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Determination of tax due by reference to cash receipts.
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13.—The following section is hereby substituted for section 14 of the Principal Act:
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“14. (1) (a) A person who satisfies the Revenue Commissioners that, taking one period with another, he derives not less than 90 per cent. of his turnover from the supply of taxable goods or services to persons who are not registered persons may, in accordance with regulations, be authorised to determine the amount of tax which becomes due by him during any taxable period (or part thereof) during which the authorisation has effect by reference to the amount of the moneys which he receives during such taxable period (or part thereof) in respect of supplies, whether made before, on or after the specified day, of taxable goods and services.
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(b) A person, other than a person to whom paragraph (a) applies, may, in accordance with regulations, be authorised to determine the amount of tax referable to taxable services which becomes due by him during any taxable period (or part thereof) during which the authorisation has effect by reference to the amount of the moneys which he receives during such taxable period (or part thereof) in respect of the supply, whether before, on or after the specified day, of taxable services.
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(2) The Revenue Commissioners may, in accordance with regulations, cancel an authorisation under paragraph (a) or (b) of subsection (1), and may, by regulations, exclude from the application of the said paragraphs (a) and (b) any tax due in respect of specified descriptions of supplies of goods or services and any moneys received in respect of such supplies.”.
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