For catering expenses exceeding 150 €, an invoice, in the name of the company, will be required. It will have to provide several essential information, such as the name and address of the restaurant owner, as well as his intra-community VAT number. The detail of the VAT rate and its amount must, of course, also be indicated, as well as the amounts excluding tax and including tax. On the other hand, if the note is lower, the receipt may be sufficient, provided that it includes the amounts (HT and TTC), as well as the VAT exerted.
Note: VAT on alcoholic beverages consumed during the meal is also recoverable.
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For miscellaneous purchases, VAT is also recoverable
For more diverse expenses, such as supplies or telephone subscriptions, it is also possible to recover VAT, always respecting the above-mentioned conditions.
Use an optimized solution to manage the recovery of VAT on expense reports
In view of the financial importance of VAT recovery for businesses, it is better to be well organized and have an optimized tool available that will help you not to miss it.
This is particularly the case with 1099 tax calculator solution. Indeed, we make available, for companies, the possibility of configuring accounting rules. They make it possible in particular to indicate the deductibility of VAT on certain categories of expenditure (such as fuel). An efficient way to manage the reimbursement of expense reports, without having to go through obscure spreadsheets, while obtaining a gain of 2 to 3% of recoverable VAT (immediate and quantifiable ROI).
Certain renovations may benefit from reduced VAT at the rate of 10%. Update on this advantage which makes it possible to finance labor and equipment at a lower cost.
Renovation work carried out by a company in old housing benefits from a reduced VAT rate under certain conditions. VAT at the reduced rate of 5.5% or at the intermediate rate of 10% is reserved for improvement, transformation, development and maintenance works on residential dwellings completed for more than two years.
10% VAT for housing completed two years ago
The 10% rate applies to work undertaken in dwellings which have been completed for more than two years and whether it is a detached house, an apartment, and even an outbuilding of this accommodation, such as the garage, the cellar or the attic. It can also be a room whose primary use was not a dwelling, but which, following the work, becomes a dwelling.
Primary and secondary residence
The work envisaged may concern your main residence, but also your secondary residence: the one you occupy during your holidays such as the accommodation you rent out or which are vacant.
If the premises are for mixed use, housing both a home and a professional activity, more than 50% of the surface must be allocated to housing so that the work undertaken on any part of the premises can benefit rate at 10%. If the dwelling represents less than half of the total surface area, only work relating to the dwelling part may be subject to intermediate VAT.