Post by joita973 on Feb 12, 2024 8:17:50 GMT
Those specifically indicated in the Act related to the business activity. These may therefore be costs directly or indirectly related to the revenues obtained. According to the Applicant there is no doubt that the costs related to the abovementioned interest are an indirect cost of obtaining revenue because there is no direct causeandeffect relationship between paying interest and obtaining specific revenue. Therefore The since in the analyzed case interest cannot constitute a direct cost of obtaining revenues they should be considered in the context of indirect costs especially in the aspect of the wording of Art. section point letter a UPDOF and Art. section point of the Personal Data Protection Act.
At the same time it is important to assess whether the incurred expenses meet the criterion Cape Verde Email List of connection with the income obtained from business activities whether the assets were acquired as part of the companys assets which is reflected in the records of fixed assets. The issue of the possibility of including interest in taxdeductible costs is regulated by Art. section point letter a the abovementioned the Act according to which expenditure on the repayment of loans credits with the exception of capitalized interest on these loans credits is not considered taxdeductible costs. At the same time in accordance with Art. section point of the Personal Data Protection Act accrued but unpaid interest on liabilities including loans credits also does not constitute tax deductible costs.
In the light of the above according to the Applicant it should be considered it possible to include the interest in the taxdeductible costs of the taxpayers business. Moreover in accordance with Art. section point above. the Act states that interest commissions and exchange rate differences on loans credits increasing the investment costs during the period of implementation of these investments are not considered tax deductible costs. Therefore according to the Applicant the analysis of the provisions referred to above shows that loan interest may be included in taxdeductible costs provided that the following conditions are met.
At the same time it is important to assess whether the incurred expenses meet the criterion Cape Verde Email List of connection with the income obtained from business activities whether the assets were acquired as part of the companys assets which is reflected in the records of fixed assets. The issue of the possibility of including interest in taxdeductible costs is regulated by Art. section point letter a the abovementioned the Act according to which expenditure on the repayment of loans credits with the exception of capitalized interest on these loans credits is not considered taxdeductible costs. At the same time in accordance with Art. section point of the Personal Data Protection Act accrued but unpaid interest on liabilities including loans credits also does not constitute tax deductible costs.
In the light of the above according to the Applicant it should be considered it possible to include the interest in the taxdeductible costs of the taxpayers business. Moreover in accordance with Art. section point above. the Act states that interest commissions and exchange rate differences on loans credits increasing the investment costs during the period of implementation of these investments are not considered tax deductible costs. Therefore according to the Applicant the analysis of the provisions referred to above shows that loan interest may be included in taxdeductible costs provided that the following conditions are met.