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Time Of Supply



Time of Supply

The time of supply with reference to the VAT Act refers to the period in which a supply occurred and when a taxable person is obligated to report the supply.  In accordance with Section 18 (1) of the Act, a supply of goods or services occurs on the earliest of the date on which —

(a) the goods are delivered or made available or the

performance of services is completed;

(b) an invoice for the supply is issued by the supplier; or

(c) any consideration for the supply is received.


Different scenarios however may also incur which establishes the time of supply and when VAT becomes due such as credit agreements, lay-a-way plans and contracts.


A supply of goods under a credit agreement occurs on the date of commencement of the agreement.


A supply of goods pursuant to a lay-a-way plan occurs when the goods are delivered to the purchaser.


Goods supplied under a rental agreement or services supplied under an agreement that provides for periodic payments are treated as successively supplied for

successive parts of the period of the agreement and each of the successive supplies occur when a payment becomes due or is received, whichever is the earlier.


EXAMPLE: Taxpayer A visits Taxpayer B’s warehouse on the 29/08/13 and pays for the goods to be delivered to his place of business at a later date, an invoice is remitted to Taxpayer A, dated 29/08/13.The goods are delivered to Taxpayer A on the 02/09/13.


The supply took place on 29/08/13 because this is the date the invoice was remitted. 

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St. Lucia Inland Revenue Department
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Manoel Street
St. Lucia, W.I.

Tel: (758) 468 2800
Fax: (758) 452 4984

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