Tax book of income and expenses

Joita9865

Quoting the amending interpretations, it should also be clarified that the taxpayer - heir cannot deduct the inherited taken over thermal modernization relief in the annual own return submitted for the year in which the testator incurred the reported expenses entitling him to this relief. Pursuant to Art. § of the Tax Ordinance, if, among others, an annual tax declaration has not been submitted , the tax authority is obliged to issue a decision on the scope of liability or rights of the heirs.

In this decision, it determines the amount of the liability or overpayment to be settled. Consequently, only after delivery of this philippines photo editor decision, the heir may include in his/her tax return for the tax year following the year covered by the tax office's decision the part of the relief not deducted by the testator under the principles of Art. h paragraph of the PIT Act, included in the decision under Art. § of the Tax Ordinance, or own expenses related to the continuation of the thermal modernization project initiated by the testator, or own expenses related to starting a new thermal modernization project.



Attention! In this case, it should be assumed that the beginning of the three-year period in which the thermal modernization project entitling to the relief should be completed is the date of incurring the first expenditure on this investment by the testator. As we read in the interpretations, the basic condition for the heir to inherit the testator's rights to the thermal modernization relief is to issue a decision pursuant to Art. § of the Tax Ordinance, and not an invoice issued to the testator. Reason for changes to previously issued interpretations The amending interpretations are the result of the response of the Ministry of Finance dated July , case reference number: DOP for the speech of the Ombudsman Ombudsman.