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Please explain the question for me.
What is a business entertaining? Is this an irrecoverable sales tax?
Thank you very much.
Thao Huyen.Business entertaining is when you (for example) take a customer out for a meal.
Whether the tax is recoverable or irrecoverable depends on the rules in the particular country. (In the UK it would not be recoverable).
However you cannot be asked that in Paper F3. The tax rules are examinable in Paper F6 and in F3 all you can be tested on is the accounting entries.
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