Dear Seniors,
My company sent me abroad for a short time (45 days) for work on a Business Visa. They gave me 2000 USD, and I only used 600 USD. I managed my expenses somehow, and the 2000 USD was calculated based on a per-day expense on food and other items except accommodation. So, is it possible for me to keep the remaining money, or do I have to surrender it to the company? I have receipts for the 600 USD spent, but as I saved the rest and earned some interest, am I eligible to keep it? Please advise.
Regards,
Arun E
From Italy
My company sent me abroad for a short time (45 days) for work on a Business Visa. They gave me 2000 USD, and I only used 600 USD. I managed my expenses somehow, and the 2000 USD was calculated based on a per-day expense on food and other items except accommodation. So, is it possible for me to keep the remaining money, or do I have to surrender it to the company? I have receipts for the 600 USD spent, but as I saved the rest and earned some interest, am I eligible to keep it? Please advise.
Regards,
Arun E
From Italy
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Hi Arun,
Of course, you need to surrender monies not used if it's on an "On Account/Advance Basis" basis. Usually, these are given as petty cash for business visits to meet expenses.
Besides, also note that there is a policy called "Per diem basis." If you were paid the allowance on a "Per diem basis," all you have saved is your income. Enjoy it. Also, remember, such money will have to be accounted for as a part of your income declaration for taxation purposes, since you have stayed abroad for only 45 days.
Ukmitra
From Saudi Arabia, Riyadh
297Of course, you need to surrender monies not used if it's on an "On Account/Advance Basis" basis. Usually, these are given as petty cash for business visits to meet expenses.
Besides, also note that there is a policy called "Per diem basis." If you were paid the allowance on a "Per diem basis," all you have saved is your income. Enjoy it. Also, remember, such money will have to be accounted for as a part of your income declaration for taxation purposes, since you have stayed abroad for only 45 days.
Ukmitra
From Saudi Arabia, Riyadh
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