COMPANY TAX RETURNS

Press, Volume LXXXIX, Issue 27098, 22 July 1953, Page 8

COMPANY TAX RETURNS

ENTERTAINMENT AN! TRAVEL EXPENSES DETAILS NOT REQUIRED IN FUTURE In future, company income tax return forms will not contain ths sections dealing with information abou travelling and entertainment expense* and overseas travelling expenses. Thu concession has been, obtained from the Commissioner of Inland Revenue (Mi F. G. Oborn) by the Associated Cham bers of Commerce, which made s approach to the Government at the re quest of the Canterbury Chamber d Commerce. In its letter, the Chamber of Commerce asked that a protest should be made against the continual increased detailed information required in a© pany taxation return forms. The <m» ber objected particularly to Seciioi O and T, and the' request in Section T for details of confidential report furnished to companies. It asked that these sections should be deleted from future returns, nt the information not be required except in any specified cases. There w additional work for companies in supplying the information in cases when it was not required, said the chamber. “Those sections were included at ■ the purpose of protection ®t tte ' revenue, and it was not thought ttat their inclusion would give rise to objection,” says Mr Oborn in his letter to the Associated Chambers ol Commerce. “On further consideration I accept the views of your organisation that the information required by these particular sections should h future be obtained by specific requ® l in cases where considered necemn“I would prefer, however, that th? information required by Sectioni 0 and T should be supplied for the 1953,” Mr Oborn says. “If any wopany takes exception to Section f » regard to supplying particulars relating to any one of the clauses 1 Id U of that section at the time of fllitf the 1953 return form, it will be satiehctory if the company endorses the form to the effect that the particular information is available to the department on request.” Information Requested Section Oin the form asks information about travelling and entertainment expenses, motor-car, etc., the nature and amount of the aWance for business travelling There II questions to be answered in getion T relating to overseas tripl. To« information required is:— (1) Full name of person making ti” trip. (2) Position he or she bolds in company. • (3) Names of persons, if any, .accompanying the person, and the Potion in the company. (4) Copies of entries in the books referring to the purpoie of tw trip. (5) Copies of any minutes after the termination of the tnp. also copies of any reports furnish® the company by the persons who we lll overseas. (6) Costs involved, dissected under the following headings: (a) fares; (W j accommodation; (c) other expenses- . (7) Countries visited and reasons td visiting. (8) Names and addresses of fir® l visited, and the reasons for visiting (9) Amount expended in actual <* proportionate figures in respect of W the purchase of stock; (b) the contad of pew agencies; (c) purchase of pl* lll (10) Expenses applicable to busing conventions, stating the names of towns in which held. (11) The total cost of the trip the basis of apportionment betwee® business and private expenditure.