When it comes to corporate income tax, you will mainly be taxed on any profits you make after deducting allowable business expenses from the total revenue of your company. Taxable companies and juridical partnerships include: Company or partnership established under Thai law (such as a public ...
Things such as rent, groceries, clothing and medical costs make up what are called “allowable expenses.” What’s left after allowable expenses is deemed disposable income that could be put toward paying off debt. Be thorough. This is where you can make crucial mistakes, such as omitting ...
Some are relatively minor, while others are rather more expensive. These outgoings can certainly mount up over a year and take a large chunk out of your rental income. Fortunately, for tax purposes, you can claim many such costs as allowable expenses, which you can deduct from your rental ...
Sovereign AI considerations may add an additional compliance and governance layer to IT and business operations. Here are some of the potential benefits from that extra compliance work: Business opportunities.Increasingly, as governments and other organizations seek to control data generated within their ...
What expenses are allowable? Only reclaim for expenses which have been incurred wholly, exclusively and necessarily in the course of running your company. This is the golden rule that all limited company directors should abide by when claiming for expenses ...
Apart from these personal income tax reliefs, there are a number of income tax deductible expenses for businesses and the self-employed. These include: Allowable expenses: These include most reasonable business expenses, which can be used to offset your trading income. ...
Yes. Employee entertaining costs are usually treated as an allowable business expense and are tax deductible. VAT-registered businesses may also recover VAT incurred on allowable employee entertainment. HMRC only allows you to do this for the cost of entertaining your current employees. An employee ...
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Convention expenses are a type of legally deductible tax that consists of expenses that occur when a person attends a business...