Time of supply rules determine taxable event on tax-rate changes by prioritising invoice or payment timing.

Change in tax rate fixes the time of supply by comparing invoice issuance and payment receipt dates. For supplies before the rate change, the earlier of invoice or payment governs when both occur after the change; otherwise invoice or payment governs according to which occurred first. For supplies after the rate change, the time of supply is determined by whether invoice or payment occurred first, with specific rules assigning priority to payment or invoice as described. "Date of receipt of payment" means the earlier of book entry or bank credit, with bank credit treated as receipt only if it occurs after four working days from the rate change.

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