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How To Deduct Business Entertainment Expenses Before Tax?
How to deduct business entertainment expenses before tax? Q: How are business entertainment expenses deducted before tax? Answer: According to the provisions of Guo Shui Fa [2000] No. 084 document, the business entertainment expenses incurred by taxpayers directly related to their business can be deducted according to the facts within the following specified proportion: if the annual net sales (business) income is 15 million yuan or less, it shall not exceed 0.5% of the net sales (business) income; If the annual net sales (operating) income exceeds 15 million yuan, it shall not exceed three thousandths of that part. If the competent tax authority requires to provide evidentiary materials for the business entertainment expenses declared and deducted by the taxpayer, it shall provide sufficient valid vouchers or materials to prove the authenticity. Those that cannot be provided shall not be deducted before tax
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