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#51 How to Deduct Representation Expenses: Tips for Maintaining Business Relationships
💼 How can you strengthen your business relationships? Business lunches, gifts, and representation costs – we covered it all in our latest episode!
Rezső is considering inviting a key client from a real estate company to a business lunch to solidify their relationship. But what are the rules in Denmark? Kati explains how business meals and gifts can be deducted, what percentage is tax-deductible, and what documentation is required.
🎙️ Join us in the latest episode of the "Business Lessons in Denmark" podcast, where we break down everything you need to know about representation costs!
🚀 Chapters:
00:00 - Intro
00:33 - Greeting
01:20 - Rezső's dilemma: business lunch with an important client
02:49 - Deductibility rate
04:20 - Documentation
05:30 - Business gifting
07:45 - Summary
Key takeaways from the episode:
đź“Ś Only 25% of business lunch expenses are tax-deductible.
đź“Ś When it comes to gifts, if they are promotional and distributed widely (like branded pens), the costs are fully deductible. For more expensive gifts, only 25% can be deducted, and VAT cannot be reclaimed.
đź“Ś Proper documentation is needed for representation costs: invoices, a list of attendees, and the purpose of the meeting or gift.
​​▶️ Useful links for the episode:
Fradrag for udgifter til repræsentation: https://info.skat.dk/data.aspx?oid=2083501
🦉 Cool Accounts ApS
Get the most out of your business!
Leave the bookkeeping and tax matters to a specialist!
https://accounts.cool/en/
View all episodes
By Cool Accounts ApS💼 How can you strengthen your business relationships? Business lunches, gifts, and representation costs – we covered it all in our latest episode!
Rezső is considering inviting a key client from a real estate company to a business lunch to solidify their relationship. But what are the rules in Denmark? Kati explains how business meals and gifts can be deducted, what percentage is tax-deductible, and what documentation is required.
🎙️ Join us in the latest episode of the "Business Lessons in Denmark" podcast, where we break down everything you need to know about representation costs!
🚀 Chapters:
00:00 - Intro
00:33 - Greeting
01:20 - Rezső's dilemma: business lunch with an important client
02:49 - Deductibility rate
04:20 - Documentation
05:30 - Business gifting
07:45 - Summary
Key takeaways from the episode:
đź“Ś Only 25% of business lunch expenses are tax-deductible.
đź“Ś When it comes to gifts, if they are promotional and distributed widely (like branded pens), the costs are fully deductible. For more expensive gifts, only 25% can be deducted, and VAT cannot be reclaimed.
đź“Ś Proper documentation is needed for representation costs: invoices, a list of attendees, and the purpose of the meeting or gift.
​​▶️ Useful links for the episode:
Fradrag for udgifter til repræsentation: https://info.skat.dk/data.aspx?oid=2083501
🦉 Cool Accounts ApS
Get the most out of your business!
Leave the bookkeeping and tax matters to a specialist!
https://accounts.cool/en/