Timeline for When should I book my hotel if prices are inflated due to a major event?
Current License: CC BY-SA 3.0
14 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Mar 2, 2016 at 17:51 | comment | added | Olielo | @DavidRicherby Yes could be... Anyway, this isn't the purpose of the original question. I guess the debate here is going nowhere :) | |
| Mar 2, 2016 at 17:50 | comment | added | David Richerby | @Olielo the cost of the tickets is likely to be at least a couple of hundred Euro. That's not a negligible amount, even when it's a pretty small proportion of salary. | |
| Mar 2, 2016 at 17:45 | comment | added | Juan Carlos Oropeza | I think this answer if for someone wanting to reduce his Formula1 experience expenses. I think OP want make his bussiness trip less expensive. | |
| Mar 2, 2016 at 16:53 | comment | added | Olielo | @DavidRicherby Definitely, when it reaches this proportion of the overall income, it will have to be taxed. But if this is just something isolated, it might not get taxed. | |
| Mar 2, 2016 at 16:28 | comment | added | David Richerby | @Olielo The tax fraud aspect relates to income tax. A common but fraudulent way to pay less tax is for the company to give its employees 1000EUR plus "gifts" worth 1000EUR, so the employee only declares an income of 1000EUR. In reality, they should be declaring an income of 2000EUR (even though it's not all paid in cash) and paying tax on all of that money. So, if the asker's company reimburses the cost of buying F1 tickets, that would probably count as a taxable "gift instead of salary" rather than tax-free reimbursement of business expenses. | |
| Mar 2, 2016 at 15:39 | comment | added | Dmitry Grigoryev | @Olielo What's the difference between a CEO buying F1 tickets for his family and a CEO buying F1 tickets for an employee they are friends with? IANAL, but this looks like a gray area to me. | |
| Mar 2, 2016 at 13:11 | comment | added | Olielo | It is obviously not illegal, even in France... A lot of companies are paying F1 tickets to customers and internal staff for marketing and rewarding purposes. This isn't a tax fraud at all. It would be a fraud if the CEO were to buy tickets for him and his family and then have the company cover all the costs. But this isn't what we are talking about here... The tax agency will eventually ask to add this to the employee income if this is significant and recurrent... But this isn't really the case here. | |
| Mar 2, 2016 at 13:04 | comment | added | Moyli | I assume that in most jurisdictions it's not illegal to give F1 tickets to your employees, but the tax agency might consider the ticket as a benefit instead of a business expense and collect income tax from the employee. | |
| Mar 2, 2016 at 12:19 | comment | added | Dmitry Grigoryev | In my country (France) a company could get in deep trouble if an audit discovers F1 tickets on an expense report. It will be seen as tax fraud. I would suggest at least getting everything confirmed in writing before making such bookings. Or, better yet, not getting involved. | |
| Mar 2, 2016 at 11:43 | comment | added | Olielo | Just listing the options here... Obviously, he needs to agree upfront with his company on what he is allowed or not to do. If the package is cheaper than the hotel on its own, then the solution will be perfect. Then for Air BnB, sorry but it is pretty common for business trips nowadays... | |
| Mar 2, 2016 at 11:16 | comment | added | Dmitry Grigoryev | The first option is also dangerous. If you plan to put that hotel+tickets package in the expense report, be prepared to have it refused and pay from your own pocket. | |
| Mar 2, 2016 at 11:08 | comment | added | Dmitry Grigoryev | Air BnB for a business trip? Seriously? What is your plan if the host cancels the accommodation a couple of days before your trip? | |
| Mar 2, 2016 at 9:14 | comment | added | DCTLib | The second last point can also be slightly tweaked: by comparing the location of the venue with the local public transportation map, you can check if using a commuter train is an option. | |
| Mar 2, 2016 at 6:51 | history | answered | Olielo | CC BY-SA 3.0 |