Taxation (Livestock Valuation, Assets Expenditure, and Remedial Matters) Act 2013

123 Section 10 amended (Value of supply of goods and services)

Replace section 10(14) with:

(14)

If a supply of services is treated as having been made under section 5(10), the consideration for the supply is calculated using the formula—

amounts received − prizes

where—

(a)

amounts received is the total of all amounts in money received in relation to the supply—

(i)

for gambling, by the person, society, licensed promoter, or organiser who under the Gambling Act 2003 conducts the gambling:

(ii)

for a prize competition, by the person who conducts the prize competition:

(b)

prizes is the total amount of all prizes paid and payable in money in relation to the supply.