New concession for input tax claims related to F&B expenses

With effect from 1 Feb 2014, the IRAS has allowed input tax to be claimed using simplified tax invoices (instead of normal tax invoices) for food & beverages incurred on entertainment expenses which exceed $1,000.

We cover this in our latest issue of GST Pu!se. To subscribe, please click here.

#inputtax #invoice #FB