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The question is what will be the treatment of Christmas baskets delivered to workers.

RESPONSE Before moving to present the proposed accounting is to indicate that the amount or value of those baskets Christmas represented in bonuses given to the worker (see Article 34 of Law delimpuesto Income), so that amount should be considered as part of personnel costs and entering the calculation of the retention of IR from rents 5th category ( applicable).

For accounting purposes, is to tell that in the case of the delivery of Christmas baskets to the workers, have to submit several operations which happened to catch the following accounting treatment:

1 . Acquisition of assets that will make Christmas baskets (Bill recorded in the Register of Purchases):

--------------- x ---------------

SHOPPING ........... 60 XXX .......... 40 TRIBxPAG

(IGV )................ XXX

CTASxCOB.COMERC ... A. .. 42

............ XXX --------------- x ---------------

2. Income from property acquired the stock of the company:

--------------- x ---------------

26 S SUPPLY ...... XXX DIVERS

VARIAC.EXISTENCIAS

A. .. 61 ............ XXX ---------------

x ---------------

3. For the output (stock) of goods (baskets of items):

--------------- x ---------------

69 ........ XXX COST OF SALES

SUPPLIES A. .. 26. DIVERS

............... XXX --------------- x ----

-----------

4. For the booking of tickets sales (log sales) issued in the delivery of the baskets:

--------------- x ---------- -----

12 ....... XXX

CTASxCOB.COMERC

A. .. 40 TRIBxPAG (GST )......... XXX

A. .. 70 SALES ................................... XXX ----------

----- x ---------------

5. According as provided in Article 34 of Law of the IR, are rents 5th among other concepts such as Aguinaldos (for the Christmas baskets), and should be considered co part of the income (in kind) of the employee:

--------------- x ---------------

PERSON COSTS .......... 62 XXX

A. .. 41 .................. XXX

REMUNERAC XPages

--------------- x - -------------

The value of the baskets should be considered together with other income received by the employee in the exercise, in order to establish whether or not to retention of quinta.6.

The amount of the count 12 will pay the amount of the account 41, wherein the accounting entry is:

--------------- x -------- -------

XXX ............ 41 REMUNERAC XPages

CTASxCOB.COMERC

A. .. 12 ..............

XXX --------------- x ---------------

Sincerely

JOSE CPCC L. Q. GARCIA

Accounting Advisory - Tax