Vehicle mileage records for VAT purposes: xls template

Introduction - mileage records for vat purposes, xls template

Vehicle mileage records for the purposes of VAT is a key element for entrepreneurs and companies doing business. Keeping mileage records allows you to justify to the tax authorities the expenses associated with the operation of your vehicles, including costs such as servicing, repairs and maintenance, which can be included as a VAT-deductible expense.

It is important that records are kept regularly and accurately, including data such as the vehicle's registration number, odometer reading and number of kilometers driven. The entrepreneur should also document all costs related to the operation of vehicles, including expenses related to the purchase of fuel, parts and servicing. Full VAT deduction is possible only if the vehicle is used exclusively for business purposes. Be sure to report the car on the VAT-26 form to the tax office - it is necessary to download and fill out the appropriate VAT-26 form.

Records should be kept in accordance with VAT regulations and include all costs associated with the operation of vehicles. Mileage records for VAT purposes should include: - Data on the car: make of vehicle, model, registration number, current odometer. - Data on the mileage records: the date the records were started, which is crucial for VAT settlements and confirmation of costs, and the odometer balance as of the date the records were started. - Data on the route driven: date of trip, description of the route, purpose of the trip, value of kilometers driven by the vehicle, information about the person driving.

For keeping mileage records, excel is often used, which, due to its popularity and versatility, is a convenient tool for documenting the mileage of business vehicles, although there may also be some limitations associated with its use.

Records for VAT purposes are different from those of a private car, so carefully analyze the information provided.

Obligation to keep records

Keeping records of vehicle mileage for VAT purposes is not only an option, but above all an obligation of every entrepreneur who wants to take full advantage of the VAT deduction on expenses related to a vehicle used in business activities. Failure to properly keep mileage records may result in the loss of the right to deduct 100% VAT, which directly affects the company's finances.

In order for the mileage records to meet legal requirements, they should include details such as the vehicle's registration number, the number of kilometers driven, the odometer balance as of the start and end of record keeping, as well as the details of the person driving the vehicle. If the vehicle is shared with other employees or persons, the name of the driver and the odometer balance at the time of transfer and return of the vehicle should be recorded each time.

An important element of the records is also to specify precisely the purpose of the trip and the start and end dates of the records. Each entry should have a unique entry number, which facilitates later control and accounting.

For convenience and transparency, many entrepreneurs choose to keep their mileage records in excel or use dedicated programs that automate the process of data entry and report generation. Systematic updating of mileage records allows not only for proper VAT accounting, but also for ongoing control of expenses related to the operation of vehicles in the company.

Remember that keeping mileage records is essential for tax benefits and optimizing business costs. Regularity, accuracy and compliance are the keys to seamless VAT accounting and efficient management of your company's fleet of vehicles. When in doubt, it's a good idea to enlist the help of an accounting firm or reliable sources, such as official tax office websites.

Benefits of record keeping

Keeping mileage records for VAT purposes allows you to deduct 100% worth of VAT on expenses related to the purchase of fuel and parts for the vehicle. A passenger vehicle may be used for vat purposes. A vehicle mileage record for VAT purposes is necessary to deduct 100% of VAT value and should include details of the vehicle's mileage, including mileage.

By keeping records, you can gain tax benefits and optimize the costs associated with operating vehicles.

It is important that the records are kept transparently and in accordance with the law, including the needs of the business.

The entrepreneur should also keep the mileage records for five years from the end of the tax year.

VAT record sheet template

The specimen sheet, in the case of mileage records, should contain the following data: date, time, place, purpose of the trip, vehicle registration number, odometer and number of kilometers driven.

The VAT mileage sheet should be maintained in a regular and accurate manner, including data such as the entry number and signature of the person responsible for keeping the records.

It is important that the sheet is easy to use and allows for quick data entry.

The businessman should also keep the VAT sheet for a period of 5 years from the end of the tax year. The sheet should be available to authorized persons, including the tax office.

Below you can download the exel template provided, ready to fill out. You can also use a ready-made program that will make it easier for you to fill out the mileage, without the need to know the rate regulations and update them - kilometrowka.net.

You can find a sample downloadable sheet below. By clicking on the xls sheet icon.