Two observations:
1/ Yes, you can take money from the company / business and use it to purchase goods or services needed by the business to function making a profit for itself. Both those transactions need to be recorded (i.e. the cash withdrawal and the proof of purchase)
2/ Paying cash is potentially participating in the underground economy. The reason they don't want to give you a receipt is because that seller doesn't want to report the income and pay tax on it. Buying from private sellers using a credit or debit card gives you an automatic receipt (albeit a lame one.) They probably don't want to do that either because then a trail of that income is recorded too.
1/ Yes, you can take money from the company / business and use it to purchase goods or services needed by the business to function making a profit for itself. Both those transactions need to be recorded (i.e. the cash withdrawal and the proof of purchase)
2/ Paying cash is potentially participating in the underground economy. The reason they don't want to give you a receipt is because that seller doesn't want to report the income and pay tax on it. Buying from private sellers using a credit or debit card gives you an automatic receipt (albeit a lame one.) They probably don't want to do that either because then a trail of that income is recorded too.
Statistics: Posted by Just Confused — Mar 13th, 2024 7:57 am
