The value of a supply of goods or services is broadly determined as follows:
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•ÌýÌýÌýÌý Where consideration has been received in monetary terms, the value of the supply is the total consideration less VAT.
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•ÌýÌýÌýÌý Where consideration has been received in non-monetary terms (partly or fully), the value of the supply is the monetary value plus the market value of the non-monetary part of the consideration, less VAT.
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