Introduction
In the business environment, the accuracy of expenses is crucial for the correct determination of tax obligations. This guide provides a detailed framework for proving the veracity of expenses before SUNAT, with a special focus on the different types of corporate expenses.
Importance of Reliability in Business Management
The accuracy of expenses is a crucial aspect in business management, especially for large companies. SUNAT has established guidelines that describe the situations in which evidentiary means are valued to ensure the veracity of the operations carried out. These evidentiary means not only include payment vouchers and complementary documents, but also a variety of other documents that may be submitted by the taxpayer to support the expenses.
In this sense, it is essential that companies have adequate documentation to support each of their expenses. The Tax Administration has the power to request these documents to verify compliance with tax obligations, which underscores the importance of having a rigorous and well-organized record-keeping system.
Evidentiary Means to Prove Common Expenses in Businesses
The SUNAT guide details several types of expenses that are usually subject to verification. These include personnel remuneration expenses, advertising expenses, training expenses and travel expenses. For each type of expense, a list of documents that can be used as evidence is provided.
For example, for staff remuneration expenses, employment contracts, electronic payroll and pay slips are essential. In the case of advertising expenses, documentation related to the planning, execution and compliance of the advertising service is essential. These examples illustrate the need for specific and detailed documentation for each type of expense.
Consequences of Lack of Reliable Documentation
Lack of adequate documentation to substantiate expenditures can have serious consequences for companies. This can range from penalties to tax adjustments, seriously affecting the financial stability of the company. Furthermore, in the Transfer Pricing context, the lack of documentation supporting services between related companies can result in significant adjustments being applied.
Therefore, it is crucial that companies adopt internal policies that ensure the collection and maintenance of all necessary documents to support their expenses. This will not only protect the company from tax audits, but will also contribute to a more transparent and efficient financial management.
Call to Action
Do you want to ensure the correct substantiation of your company’s expenses?
Contact us at TPC Group and find out how we can help you comply with current tax regulations and optimize your expense management.
Source: Reference Guide: Expense Substantiation, SUNAT
