Paragraph 2 Turnover of an undertaking

The turnover of an undertaking is the sum of all amounts derived directly or indirectly by the undertaking from its sale of products and provision of services, after the deduction of sales rebates, value added tax and other taxes directly related to turnover.

Paragraphs 5 and 6 also apply to determine the turnover of an undertaking.

But where all or any of the activities of an undertaking are the activities of a credit institution, a financial institution or an insurance undertaking, paragraph 3 or (as the case may be) paragraph 4 applies instead of this paragraph to determine the turnover of the undertaking in respect of those activities.