Sales and turnover are used interchangeably to mean the same thing. "Sales measures gross operating revenues, less rebates, discounts and returns. Sales should be measured exclusive of consumption and sales taxes on consumers and value added taxes" (UN, European Commission, IMF, OECD, UNCTAD and WTO, Manual on Statistics of International Trade in Services, ST/ESA/STAT/SER.M/86, Statistical Papers, Series M, No. 86, Geneva, Luxembourg, New York, Paris, Washington D.C., 2002, paragraph 4.50).

Sales consist of all goods and services invoiced by an establishment or enterprise during the reporting period. They also include all other charges passed on to the customer, for transportation, packaging etc. The figure used for sales should be after any price reductions, discounts and rebates and credits for returned packaging. Other operating income, financial income and extraordinary income should not be included in sales.

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