Profits Tax / Expense Norms For Business Trips And Representation

(Tax News Reporter - Week ended 11 June 1996)

As of 1 June 1996, new norms have come into force for business trip expenses and entertainment costs, connected with the reception of foreign delegations. The norms are slightly higher than the previous ones but are still likely to be exceeded by real cost. Generally, business trip and entertainment expenses are only tax-deductible within the stated norms.

Letters of the Ministry of Finance of 27 May 1996 No's 48 and 49

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