LON (89/770)

No. 4384

Decision given 8 December 1989.

Assessment – Supplies of goods to non-taxable persons for resale – Direction by commissioners that tax be accounted for on the open market value of the goods – Meaning of open market value – Whether discount allowed for prompt payment should be reflected in the open market value – Value Added Tax Act 1983, Sch. 4, para. 3.

  The issue was the meaning of ‘open market value’ where the commissioners had made a direction under the Value Added Tax Act 1983, Sch. 4, para. 3.

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