Tax
VAT Audit Penalty (Non-Deductible)
Recording a penalty issued by the ISTD (Jordan) for an error in a previous VAT filing.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Tax Penalties & Fines | Expense (+) | 1,000.00 | - |
| Cash / ISTD Payable | Mixed | - | 1,000.00 |
💡 Accountant's Note
Fines and penalties are business expenses for accounting, but they are 'Non-Deductible' for tax. This means you record the loss now, but you can't use it to lower your income tax bill later.
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