Business Lessons in Denmark

Cool Accounts ApS

Time is money - but so is knowledge. This podcast from Cool Accounts ApS gives you practical advice and useful tips about the administration and financial management of your company. It helps you with taxes and all the other legal stuff, you should have known from the beginning but nobody told you… Contact us via: www.accounts.cool

  1. 09/16/2024

    #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: 📌 Only 25% of business lunch expenses are tax-deductible. 📌 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. 📌 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/

    9 min

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Time is money - but so is knowledge. This podcast from Cool Accounts ApS gives you practical advice and useful tips about the administration and financial management of your company. It helps you with taxes and all the other legal stuff, you should have known from the beginning but nobody told you… Contact us via: www.accounts.cool