Article 52 - Calculating the Value of Supplies

1. For the purposes of applying the provisions of this Agreement, the value of annual supplies is calculated on the basis of any of the following:

a) total value of supplies – excluding exempted supplies – made by the Taxable Person at the end of any month plus the previous eleven months;

b) total value of supplies – excluding exempted supplies – expected to be made by the Taxable Person at the end of any month plus the following eleven months or in accordance with the criteria and specified period determined by each Member State.

2.Total value of supplies consists of the following:

a) the value of Taxable supplies except for the value of Capital Assets Supply;

b) the value of Goods and Services supplied to the Taxable Person who is obliged to pay Tax pursuant to the provisions of this Agreement;

c) the value of Intra-GCC Supplies where the place of supply is in a Member State other than the State where the Taxable Supplier resides and these supplies would have been taxable in the State where the Supplier resides had the place of supply been located in that State.

3. Each Member State may determine the conditions and provisions for the aggregation of the business revenue of Related Persons who conduct similar or related activities and register each of them mandatorily on the basis of the total business revenue.