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  1. 8,681 Posts.
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    vontrader

    I agree with your diagnosis of the reason behind the suspension - the need to settle whether the P1 shares count as revenue for GCN, when they never passed through GCN's hands on their way to the shareholders.

    I am surprised that there is no immediately applicable case law for these circumstances.

    By analogy (and of course it may not apply to businesses) what would happen if Person A did some work for Person B, who was intending to reward Person A with goods in kind.

    Person A tells Person B not to hand over the goods in kind, but to give them instead to Persons Y and Z.

    Would Person A have to pay tax on the value of these goods, even though they didn't pass through Person A's hands?

    NB. I am not seeking taxation advice, merely looking for an analogy for the bind GCN finds itself in.
 
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