The Minister may on the recommendation of the Board, by legislative instrument make Regulations      

(a) in respect of domestic tax in accordance with the applicable provisions of the Internal Revenue Act; 2000 (Act 592) and the Value Added Tax Act,1998 (Act 546);          

(b) in respect of customs and excise tax in accordance with the applicable provisions of the Customs, Excise and Preventive Service (Management) Act, 1993 (P.N.D.C.L. 330);

(c) on the procedure for the retention of revenue by the Authority; and

(d) for the effective implementation of this Act and in particular provide guidelines for the administration of legislation administered by the Authority.