- New VAT rules apply to transactions between related persons (family, cohabitants, or businesses with over 50% shared ownership).
- If such transactions are not at open market value, the Commissioner can adjust the taxable amount to reflect the true market value.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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