The UAE Federal Tax Authority has issued VAT Public Clarification - VATP042, Value of Supply - Barter Transactions. --- Issue In general, taxable persons receive monetary consideration for the supplies they make but consideration may also be received in the form of goods or services, i.e. non-monetary consideration. Transactions which involve the exchange of goods and/or services, are known as barter transactions. This Public Clarification clarifies the VAT treatment of barter transactions. Summary Barter transactions involve at least two supplies, i.e. each party makes a supply to the other. Such supplies are subject to the general VAT rules, nevertheless, special...