- Georgia issued Public Decision No. 147 to clarify VAT rules for barter transactions involving goods and services.
- VAT applies to barter/sales amounts excluding VAT, but including subsidies linked to the price.
- In barter deals, the taxable amount is generally based on the reimbursement received; invoices may be issued by each party, subject to local rules.
- The Tax Authority can use market prices to determine taxable amounts, especially for barter and exchanges of immovable property.
- The decision includes examples and took effect on the date of publication.
Source: globalvatcompliance.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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