Preparation of Accounting Evidence that can be considered as Legal Expenses

Abstract

Moreover, to run business, entrepreneurs may encounter problems which occur from actual business expenditure but they have insufficient evidence to improve their payments, which may occur from (1) a payee who does not issue proof of payment to a payer
(2) a payee who gives an incomplete receipt to a payer and (3) a payee who does not issue proof of payment allowing tax withholding to a payer.Therefore, the entrepreneurs should study legal requirements and related tax regulations in order to record accounting transactions and pay taxes correctly. Otherwise, they may have to pay additional taxes in terms of fine or surcharge, and all of which would influence the increase of their business operation cost.