Post by joita973 on Feb 12, 2024 8:17:53 GMT
In order to determine the correct tax base the Applicant will keep a tax book of revenues and expenses. The place where the Applicant will run her business is an apartment located in W. which the Applicant purchased entirely with the funds of a mortgage bank loan granted in i.e. before starting her business. When starting a business the Applicant intends to use part of the residential premises for running a The business. At the same time the Applicant intends to make depreciation deductions for the same part after entering part of the residential premises in proportion to the total area in the register of fixed assets.
In connection with the above the following question was asked. Due to the above the Cape Verde Email List Applicant had doubts as to the possibility of including interest on a mortgage loan taken out for the purchase of a residential premises intended in a specific part for running a business as taxdeductible costs... According to the Applicant interest on a loan taken out for the purchase of a residential premises intended partly for running a business will constitute the taxdeductible cost of this activity. Pursuant to Art. section of UPOF taxdeductible costs are costs incurred in order or secure a source of revenue with the exception of the costs listed in Art.
In the light of the provision cited above in order for a specific expense to be considered a taxdeductible cost it must meet all of the following conditions . be causally related to the income or source of income and be incurred in order to achieve income or to maintain or secure the source of income . not be included in the list of expenses not recognized as costs of obtaining income listed in Art. section of the Personal Income Tax Act . be properly documented. Basically according to the Applicant it is assumed that the costs of obtaining revenues are all reasonably justified expenses incurred apart from.
In connection with the above the following question was asked. Due to the above the Cape Verde Email List Applicant had doubts as to the possibility of including interest on a mortgage loan taken out for the purchase of a residential premises intended in a specific part for running a business as taxdeductible costs... According to the Applicant interest on a loan taken out for the purchase of a residential premises intended partly for running a business will constitute the taxdeductible cost of this activity. Pursuant to Art. section of UPOF taxdeductible costs are costs incurred in order or secure a source of revenue with the exception of the costs listed in Art.
In the light of the provision cited above in order for a specific expense to be considered a taxdeductible cost it must meet all of the following conditions . be causally related to the income or source of income and be incurred in order to achieve income or to maintain or secure the source of income . not be included in the list of expenses not recognized as costs of obtaining income listed in Art. section of the Personal Income Tax Act . be properly documented. Basically according to the Applicant it is assumed that the costs of obtaining revenues are all reasonably justified expenses incurred apart from.