Grounds
Books are disqualified when substantial defects are found: missing entries, failure to keep required documents, or material contradictions. Consequences include: assessment at the assessor's best judgment (usually higher), loss of standard expense deductions, additional tax penalty of up to 25%, and potential loss of VAT input credits.
Important Note: The information on this website is for general informational purposes only and does not constitute professional tax advice. Consult a qualified tax advisor before making financial decisions.