Market price

Market price — the market price refers to the value of goods (works, services) that is formed as a result of the interaction between supply and demand.

Calculating taxes based on the market price may be applied in the following cases:

• when barter (exchange of goods) or import–export operations are carried out;

• when economic transactions are conducted between related parties;

• when, within a period of 30 days, the prices applied by taxpayers to homogeneous or similar goods (services, works), taking into account losses arising from natural wastage within the established norms, differ from the price levels of similar goods (services, works) in comparable market transactions by more than:

  • 20% in construction and manufacturing activities,

  • 10% in wholesale trade activities,

  • 30% in other types of activities (upward or downward);

• when an enterprise’s property is insured for an amount higher than its residual value;

• when there is a need to determine the monthly rental value of immovable property;

• when documents confirming the supply of goods (services, works) are not available or are not provided by the taxpayer during a tax audit.