Post by account_disabled on Mar 11, 2024 23:10:44 GMT -5
The to a public institution and organization it is sufficient to issue a document regarding the delivery for the values to be received by this institution and organization and the value type and amount of the donated value must be stated in the document without leaving any room for hesitation. In addition the signatures of the officials of the relevant public institutions and organizations will be found on the back of the invoices issued regarding the donated values within the explanations stated above . Accounting for Donations and Aids . of the Corporate Tax General Communiqu No.
Regarding the accounting of donations and aid . Regulations have been made under the heading Sponsorship expenses donations and aid . The regulation in question Since the sponsorship expenditures and donations and aids made by the institutions are taken into account as expenses in the records on the date of the expenditure or donation and aid such expenditures and Ecuador Mobile Number List donations and aids are taken into account as expenses that are not accepted by law in determining the profit of the institution and if the profit of the institution is sufficient they are included in this section. Within the framework of the explanations given it must be deducted from the corporate tax base provided that it is shown separately on the declaration statement was made.
Therefore donations and aid made during the year should be collected in the account where legally unacceptable expenses are tracked should not be taken into account in determining the financial profit and if the corporate income is sufficient it should be shown separately on the declaration and deducted from the corporate tax base. The only exception to this practice is the records regarding food cleaning clothing and fuel donated to associations and foundations that engage in food banking activities to help the poor within the framework of the procedures and principles determined by the Ministry.
Regarding the accounting of donations and aid . Regulations have been made under the heading Sponsorship expenses donations and aid . The regulation in question Since the sponsorship expenditures and donations and aids made by the institutions are taken into account as expenses in the records on the date of the expenditure or donation and aid such expenditures and Ecuador Mobile Number List donations and aids are taken into account as expenses that are not accepted by law in determining the profit of the institution and if the profit of the institution is sufficient they are included in this section. Within the framework of the explanations given it must be deducted from the corporate tax base provided that it is shown separately on the declaration statement was made.
Therefore donations and aid made during the year should be collected in the account where legally unacceptable expenses are tracked should not be taken into account in determining the financial profit and if the corporate income is sufficient it should be shown separately on the declaration and deducted from the corporate tax base. The only exception to this practice is the records regarding food cleaning clothing and fuel donated to associations and foundations that engage in food banking activities to help the poor within the framework of the procedures and principles determined by the Ministry.