Post by account_disabled on Oct 31, 2023 5:33:51 GMT
Thermal modernization relief can be deducted if the thermal modernization project is completed within consecutive years from the date of incurring the first expense. Documentation of the right to relief The basis for deducting the thermal modernization relief is an invoice issued by a VAT payer active VAT payer . Expenses incurred for thermal modernization are deducted in the PIT return submitted for the year in which these expenses were incurred. From January , , pursuant to Art. h section point of the PIT Act, the date of invoice issuance is considered the date of incurring the expense under the thermal modernization relief.
Let us recall that previously, the Ministry of Finance's explanations regarding the thermal modernization relief philippines photo editor indicated the date of sale as the date of incurring the expense. Does an advance invoice entitle you to a thermal modernization discount? According to the current explanations of the National Tax Information KIS , an advance invoice issued does not constitute a basis for deducting the thermal modernization relief if a final/settlement invoice is issued for it. Example . In November , Mrs. Anna paid an advance payment of PLN , for the installation of air conditioning with a heat pump and received an advance invoice.
In January , the work was completed and Mrs. Anna received a final invoice for PLN , . When can Mrs. Anna deduct the relief? Mrs. Anna can deduct the thermal modernization relief only in the tax return for submitted in in the entire amount, i.e. also taking into account the advance payment paid in . Therefore, the deduction in the PIT for is the sum of the amounts paid as an advance payment in and as final settlement of the debt in.
Let us recall that previously, the Ministry of Finance's explanations regarding the thermal modernization relief philippines photo editor indicated the date of sale as the date of incurring the expense. Does an advance invoice entitle you to a thermal modernization discount? According to the current explanations of the National Tax Information KIS , an advance invoice issued does not constitute a basis for deducting the thermal modernization relief if a final/settlement invoice is issued for it. Example . In November , Mrs. Anna paid an advance payment of PLN , for the installation of air conditioning with a heat pump and received an advance invoice.
In January , the work was completed and Mrs. Anna received a final invoice for PLN , . When can Mrs. Anna deduct the relief? Mrs. Anna can deduct the thermal modernization relief only in the tax return for submitted in in the entire amount, i.e. also taking into account the advance payment paid in . Therefore, the deduction in the PIT for is the sum of the amounts paid as an advance payment in and as final settlement of the debt in.