ECONOMY

Keep receipts for tax breaks

Taxpayers can enjoy breaks of up to -8,000 from their taxable income if they submit original receipts from a wide array of services, according to details issued by the Finance Ministry yesterday. In order to avail themselves of the benefit, which is calculated as 40 percent of expenses, the taxpayers have to submit the original receipts (if the income declaration is submitted in person at the tax office or sent by post). The ministry clarified that valid receipts are considered those from catering establishments but not from cafes or canteens, as previously thought, and as long as consumption takes place on the premises. Meals in fast-food restaurants and those at hotels or on ships are exempted. But expenses at nightclubs and other places of entertainment, including for wedding and baptism receptions, are eligible for the tax break. Further recognized expenses include those for all types of personal services, as well as for repairs and maintenance of the home and household appliances.