Article 34 - Annual Supplies for VAT registration purposes

A. The value of annual Supplies must include, for the purposes of registration, the following:

1. The value of Taxable Supplies of Goods and Services, with the exception of the value of Capital Assets.

2. The value of Deemed Supplies.

3. The value of Intra-GCC Supplies which would have been taxable if made in the Kingdom.

4. The value of annual Supplies made by Related Parties, where the conditions as set out in Article 40 of these Regulations are met.

5. The value of Goods and Services supplied to the Taxable Person who is liable to pay the Tax due.

B. The provisions of Paragraph A of this Article shall apply to determine the value of the expected annual Supplies. The value of the expected annual Supplies shall be based on a clear business plan prepared by the Taxable Person, and should not be expected to be subject to a change which may affect realising the expected Supplies.