In a limited company, you should apply for all possible expenses, travel costs, daily allowances, representation expenses and other benefits. All the expenses mentioned above are deductible expenses for the company in income tax, so you can save money!
These expenses are also used to calculate the company's profit, which means that 20% corporate tax is paid on a smaller amount than normal.
Conditions for applying for kilometer allowances and daily allowances:
- It must be a business trip according to the definition of the tax administration. More information on the website of the tax administration.
- The trip was made with a vehicle other than the company's name.
- When paying the daily allowance, the duration of the trip and its destination must be considered. Exact definitions from the tax administration.