Christmas is here, and what better to start our blog accounting Gazelle Circle a topic for our customers asked repeatedly and in successive years, I mean how the costs are accounted for at this time are made on the basis of business meals, gifts to employees, customers or suppliers?
First we have to distinguish the costs incurred to employees and gifts / hospitality taken / as with suppliers, customers, etc.
In either case the input VAT on such expenditure is deductible in the absence of consideration over the same (no sale), Article 96.1.5 of VAT Act, which comes to tell us: no input tax deductible on the acquisition of goods and services for attention to customers, employees or third parties. Therefore
seats would be as follows:
a) Employees (food companies, baskets ....)
649. Other social expenditure to 57. Treasury
b) Suppliers, Customers and other (gifts, baskets ...)
627. Advertising and public relations 57. Treasury
Eye! Parties agree that these expenses are not deductible for corporation tax so there will be to make necessary adjustments.
you soon
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