The subsy is n-refundable which causes specific obligations on the part of the support beneficiary. The subsy received is exempt from income tax which means that we will t pay income tax on it. However the question arises among others regarding the depreciation of fixed assets and we will deal with this later in the article. Depreciation of fixed assets Entrepreneurs are obliged to depreciate purchased fixed assets above a certain amount currently.
All expenses below this amount may or may t be depreciated. People interested in the topic of depreciation are referred to the publication philippines photo editor which shows the types of depreciation depending on the initial value of the fixed asset and the status of the entrepreneur. We already kw so we need to determine whether if the purchase was financed with a subsy the depreciation write-offs will be deductible costs. Depreciation of fixed assets purchased with subsies.
The key in our case will be to check what the provisions of the Personal Income Tax Act say about the depreciation of fixed assets purchased with subsies. The rules for making depreciation write-offs are described in detail in the regulations Articles a- o of the Personal Income Tax Act . However we still have art. which indicates various types of exclusions from tax-deductible costs and includes among others a provision stating that.
發表於 15:32:08
