Search box

Definition: Net turnover

National accounts

Net turnover (as defined in Article 28 of the Fourth Council Directive) comprises the amounts derived from the sale of products and the provision of services falling within the company's ordinary activities, after deduction of sales rebates and of value added tax and other taxes directly linked to turnover.
European Union, Fourth Council Directive 78/660/EEC of 25 July 1978 based on Article 54 (3) (g) of the Treaty on the annual accounts of certain types of companies (Official Journal of the European Communities No L 222, 14/08/1978, p. 11)