Introduction
In the business environment, the accuracy of expenses is crucial to determining tax obligations correctly. This guide provides a detailed framework for proving the expense veracity before the SUNAT (Superintendencia Nacional de Aduanas y de Administración Tributaria – National Superintendence of Custom and Tax Administration), focusing on the different types of corporate ones.
Reliability Importance in Business Management
The accuracy of expenses is crucial in business management, especially for large companies. The SUNAT has established guidelines detailing the situations in which evidentiary means are valued to ensure the correctness of the operations. These evidentiary means not only include payment vouchers and complementary documents but also several other documents supporting the expenses the taxpayer may file.
In this regard, companies must have adequate documentation to support their expenses. The Tax Administration can request these documents to verify compliance with tax obligations, thus needing 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. A list of documents must evidence each expense made.
For example, employment contracts, electronic payroll, and pay slips are essential for staff remuneration expenses. For advertising expenses, documentation related to the planning, execution, and compliance of the advertising service is necessary. 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 expenses can result in serious consequences for companies. It can range from penalties to tax adjustments, seriously affecting the corporate financial stability. Furthermore, in the Transfer Pricing context, the lack of documentation supporting services among related companies can result in significant adjustments.
Therefore, companies must adopt internal policies ensuring the collection and maintenance of all necessary documents to support their expenses. It will protect the company from tax audits and contribute to more transparent and efficient financial management.
Call to Action
Would you like to ensure the correct support of your company’s expenses?
At TPC Group, we will assist you in complying with current tax regulations and optimizing your expense management.
Source: Reference Guide: Expense Substantiation, SUNAT
