Post by account_disabled on Mar 16, 2024 1:27:59 GMT -8
The is taxable income, but exempt and shown in Annex CIT /O, so it does not increase our tax base. Accounting for the subsidy due recognition of the subsidy in the accounting books Taking into account the types of expenses investment or strictly correlated and payments advance payment, interim payment, you should decide how to record receivables so that their balance is consistent with the submitted payment applications. A popular solution is to record revenues in correspondence with an account such as Accrued income and to book receivables separately on the date of submitting the payment application with the account of prepaid income.
Double financing Please remember that a given expense cannot be financed in two ways, it can be financed in parts in two projects, in project A and in project B, but it cannot be financed in each including projects of tax Buy Lead exemptions. If we use any reliefs, tax exemptions, etc., we should check whether these reliefs cannot be used while cofinancing the expense. VAT eligibility If the beneficiary is unable to recover VAT, it is possible to recognize this tax as eligible. However, additional conditions must be met: including VAT eligibility in the funding application and payment application.
The tax was correctly calculated on the basis of correctly issued invoices, the tax was actually incurred, the tax applies to eligible expenses. Internal regulations Grant beneficiaries are subject to EU and national regulations, but also to the entity's internal regulations. It is very important to precisely describe the entity's rules related to the settlement of subsidies in its internal regulations. The selected methods of recording project operations should be described in the accounting policy. Institutions controlling the correctness of project settlement very often ask for accounting policy in this context. It is also recommended to prepare instructions for the circulation of design documents regarding cost.
Double financing Please remember that a given expense cannot be financed in two ways, it can be financed in parts in two projects, in project A and in project B, but it cannot be financed in each including projects of tax Buy Lead exemptions. If we use any reliefs, tax exemptions, etc., we should check whether these reliefs cannot be used while cofinancing the expense. VAT eligibility If the beneficiary is unable to recover VAT, it is possible to recognize this tax as eligible. However, additional conditions must be met: including VAT eligibility in the funding application and payment application.
The tax was correctly calculated on the basis of correctly issued invoices, the tax was actually incurred, the tax applies to eligible expenses. Internal regulations Grant beneficiaries are subject to EU and national regulations, but also to the entity's internal regulations. It is very important to precisely describe the entity's rules related to the settlement of subsidies in its internal regulations. The selected methods of recording project operations should be described in the accounting policy. Institutions controlling the correctness of project settlement very often ask for accounting policy in this context. It is also recommended to prepare instructions for the circulation of design documents regarding cost.