Using Business Cards for Personal Expenses

Tax consultant Mykhailo Smokovych has clarified the rules surrounding the use of business cards for personal expenses, dissipating common misconceptions among entrepreneurs and accountants. According to Smokovych, using a business card for personal needs is legally permissible as long as taxes are paid and there are no outstanding debts.

The State Tax Service has also provided guidance affirming this stance. However, questions remain regarding proper expense categorization. Smokovych encourages business owners to fully understand their responsibilities related to business card usage to ensure compliance with the law.