it is used for business entertainment meals, borrowing management fees for business entertainment, borrowing cash from bank deposits, working meals for employees, borrowing wages and employee welfare funds payable for employees, and borrowing cash from bank deposits.
according to the new enterprise income tax law, business and entertainment expenses incurred by an enterprise related to production and operation shall be deducted according to 61% of the amount incurred, but the maximum amount shall not exceed 5% of the sales (business) income of the current year, but not all meals shall be included in business and entertainment expenses.
in practice, it is often difficult to distinguish between business entertainment expenses and conference expenses, travel expenses, advertising and business promotion expenses, etc. For example, when a company holds a meeting, it often has meals in a rented hotel or hotel, and this part of catering expenses is often charged to the first meeting expenses.