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
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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
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306Of 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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