net turnover

Definitions over time (2)

05/01/2023 – today applies on 12/11/2026 Article 2, Directive 2013/34/EU (IFRS) Scope: Whole act

For the purposes of this Directive, the following definitions shall apply:

‘net turnover’ means the amounts derived from the sale of products and the provision of services after deducting sales rebates and value added tax and other taxes directly linked to turnover; however, for insurance undertakings referred to in point (a) of the first subparagraph of Article 1(3) of this Directive, ‘net turnover’ shall be defined in accordance with Article 35 and point 2 of Article 66 of Council Directive 91/674/EEC (^{9}); for credit institutions referred to in point (b) of the first subparagraph of Article 1(3) of this Directive, ‘net turnover’ shall be defined in accordance with point (c) of Article 43(2) of Council Directive 86/635/EEC (^{10}); and for undertakings falling under the scope of Article 40a(1) of this Directive, ‘net turnover’ means the revenue as defined by or within the meaning of the financial reporting framework on the basis of which the financial statements of the undertaking are prepared;
05/12/2014 – 05/01/2023 Article 2, Directive 2013/34/EU (IFRS) Scope: Whole act

For the purposes of this Directive, the following definitions shall apply:

‘net turnover’ means the amounts derived from the sale of products and the provision of services after deducting sales rebates and value added tax and other taxes directly linked to turnover;