https://www.taxtmi.com/caselaws?id=162472 A statutory VAT direction fixing tax by reference to open market value applied to goods supplied to non-taxable persons for onward retail sale where the business structure was directed to large-scale retail distribution. Goods already ordered by customers and earmarked for resale could be treated as goods to be sold by retail, and the business did not need to be split into separate branches to satisfy that language. The direction also applied even where each item was not immediately individually identified, because VAT is self-assessed and traders must keep the information needed for correct assessment. The open market value basis did not contravene Community law, as the derogation was limited to what was strictly necessary to prevent tax avoidance or evasion. en-us Thu, 22 Feb 1996 00:00:00 +0530 Thu, 27 Feb 2014 15:16:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162472 A statutory VAT direction fixing tax by reference to open market value applied to goods supplied to non-taxable persons for onward retail sale where the business structure was directed to large-scale retail distribution. Goods already ordered by customers and earmarked for resale could be treated as goods to be sold by retail, and the business did not need to be split into separate branches to satisfy that language. The direction also applied even where each item was not immediately individually identified, because VAT is self-assessed and traders must keep the information needed for correct assessment. The open market value basis did not contravene Community law, as the derogation was limited to what was strictly necessary to prevent tax avoidance or evasion. Case-Laws VAT and Sales Tax Thu, 22 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162472