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Hi,
If an employee uses a company petrol card for all travel expenses (petrol, toll), am I correct in saying that the VAT on the toll fees paid for private reasons (going on holiday etc) would not be deductible by the company?
And then I would include these toll fees at the VAT inclusive amount in this employee's earnings as a taxable income?
Any thoughts?
If an employee uses a company petrol card for all travel expenses (petrol, toll), am I correct in saying that the VAT on the toll fees paid for private reasons (going on holiday etc) would not be deductible by the company?
And then I would include these toll fees at the VAT inclusive amount in this employee's earnings as a taxable income?
Any thoughts?