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Is bartering taxable?

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asked on Mar 15, 2017 at 04:49
by   Bond212
edited on Mar 20, 2017 at 09:52
 
Just wondering, as the titles states, is bartering actually taxable?

For example, if I trade RM20,000 worth of jewelry for a car. Do I or the other party have to pay any taxes?

If yes, how is the tax process like?

Thank you for the help! Much appreciated.
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answered on Mar 15, 2017 at 05:22
by   Nerd
edited Mar 20, 2017 at 09:52
 
Wonderful question..!!

In A.D. 600-900, Merchants from Chinese and Arabs were trading in the Majestic City of PETRA in the middle east and along the Silk Road. Along the trade routes, indirect taxes (forced barter trade) were paid for safe passage through the various villages otherwise risks of being rob and killed.

If yes, how is the tax process like? 
Open jewelry invoice and add GST
Open car invoice and add GST
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