No. Your company must operate with its money in a completely digital way. As a general rule, it is not even advisable to withdraw money from an ATM with your business card. This card should be used for online payments only, and always for services or products that can give you an invoice for your company.

It is important that each movement of money of your company is reflected by a banking movement and has associated supporting documentation such as an expense or income invoice.

in Banks and Payments

2 Comments

  1. Rodrigo Moretti
    November 17, 2019 at 10:04 am – Reply

    Hi!

    My company pays individuals for certain tasks, the same way lime pays users for charging their scooters or youtube pays YouTubers for running ads.

    My issue is that for all those payments I know the individual’s VAT number, and have a bank movement to prove that I have paid him, but I don’t have an invoice from that individual to my company (because that individual is not a company).

    Those costs amount to 60% of all my business revenue.

    My question is: Can I declare those business expenses using as proof the bank statement, including individual’s VAT number, but without the invoice back?

    Thank you for your help,

    Rodrigo

    • Ignacio
      November 26, 2019 at 10:56 am – Reply

      Dear Rodrigo,

      In that case, you need either a services contract or an employment contract for those people. If they are not professionals, a services contract is possibly not an option (you and they will run into trouble with the local tax authorities). Most probably in these situations, you need an employment contract.

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