Glossary:Turnover STS

Short-term business statistics provide turnover indicators for industry, trade and services.

As defined in Commission Regulation (EC) No 1503/2006 of 28 September 2006, turnover comprises the total invoiced by the statistical unit (observation unit) during the reference period. It includes all charges, such as packaging and transport, even if they are listed separately in the invoice. Turnover does not include VAT and similar deductible taxes. Turnover should be calculated on the basis of actual prices (including e.g. rebates and discounts) and not on the basis of list prices. However, short-term statistics do not take into account price reductions etc. that are given to clients at a later moment (e.g. at the end of the year).

Some examples of items usually included in turnover are:

  • Sales of manufactured products
  • Sales of goods purchased for resale (esp. in trade)
  • Sales of by-products
  • Charges for packaging
  • Invoiced services such as installation

Some examples of items that are usually excluded from turnover are:

  • VAT and similar deductible taxes
  • Leases and rentals
  • Receipts from staff facilities (e.g. canteens)
  • Sales of own land and fixed asses
  • Extraordinary income

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