Section 2
SEC. 2. Section 30 (a) (1) of the National Internal Revenue Code is hereby further amended by adding thereto a new subparagraph to read as follows: "(D) Substantiation required.—No deduction shall be allowed under the preceding subparagraphs (B) and (C), unless the taxpayer substantiates with official receipts or by adequate records or by sufficient evidence corroborating his own statement (i) the amount of such expense or other item, (ii) the date and place of entertainment, amusement; or recreation, (iii) the business purpose of the expense or other items and (iv) the business relationship to the taxpayer of the persons entertained or using the facility. The Minister of Finance may by regulations provide that some or all of the preceding sentence shall not apply in the case of an expense which does not exceed an amount prescribed pursuant to such regulations."