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Their content is taxable income, but exempt and shown in Annex so it does not increase our tax base. Accounting for the subsidy due – recognition of the subsidy in the accounting books. Taking into account the types of expenses (investment or strictly cost-relate) and payments (advance payment, interim payment), you should decide. How to record receivables so that their balance is consistent with the submit payment applications. A popular solution is to record revenues in correspondence. With an account such as “Accrue income” and to book receivables separately. On the date of submitting the payment application with the account of prepaid income.

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Double financing Please remember that a given expense cannot be finance in two ways, i.e. it can be finance in parts in two projects, in project A and in project B, but it cannot be finance in each including projects. This principle also applies in the context Photo Retouching of tax exemptions. If we use any reliefs, tax exemptions, etc., we should check whether these reliefs cannot be use while co-financing the expense. VAT eligibility If the beneficiary is unable to recover VAT, it is possible to recognize this tax as eligible. However, additional conditions must be met.

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Including VAT eligibility in the funding application and payment application, the tax was correctly calculate on the basis of correctly issue invoices, the tax was actually incur, the tax applies to eligible expenses. Internal regulations Grant beneficiaries BTC Data Base EU are subject to EU and national regulations, but also to the entity’s internal regulations. It is very important to precisely describe the entity’s rules relate to the settlement of subsidies in its internal regulations. The select methods of recording project operations should be describe in the accounting policy. Institutions controlling the correctness of project settlement very often ask for accounting policy in this context.

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