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Tax Alert: Expert Reveals Strict Rules for Business Meal Deductions in Spain
Madrid, Spain – A recent discussion on the BLV Podcast featuring fiscal expert Álex Algarci shed light on the stringent requirements for businesses seeking to deduct meal expenses. Algarci emphasized that simply paying for a meal with a company card is insufficient for tax purposes, particularly under the scrutiny of tax authorities like Hacienda in Spain. According to Algarci, businesses must maintain robust documentation to justify such deductions. This includes meticulously recording the date, time, and specific business purpose of the meal in a physical agenda. He stressed the necessity of retaining the original receipt as proof of purchase. Algarci issued a stern warning regarding the tax authority's approach to representation expenses. He noted that inspectors are likely to reject deductions for meals that fall on public holidays or appear to be for personal leisure rather than legitimate business engagements. “Hacienda is very keen on questioning representation expenses,” Algarci stated, underscoring the critical importance of documenting every detail to ensure the deduction is accepted. The expert's advice highlights the need for proactive and diligent record-keeping to navigate tax regulations successfully.
