The short answer is no. Business expenses are in principle not taxable, as long as they are: 1) deductible by local law 2) substantiated, which means that they can be proved. Deductible expenses in a business context are typically things like car rental, hotel, and meals on a business trip and typically not things like: admission to the museum, fines or penalties, clothes for work etc. If employers choose to reimburse employees for all the fun they have on business trips, most of those expenses would not qualify as “”deductible”” and would need to be reimbursed as taxable wages. Second, employees must submit receipts and other necessary substantiation to prove their expense. In a lot of cases, employees also need to submit records of how those expenses were related to the business. Dinner for example can be deductible but only when it is related to business. For an expense to be deductible, it is the employee’s job to substantiate the claim with not only a receipt but documentation of the work purpose.
Are expense reimbursements taxable?
#InsideRydoo | Sales Development Representative Spotlight: Michelle Merkl
What makes being an SDR at Rydoo different than at other companies? We sit down with Michelle Merkl, a Sales Development Representative for the DACH market based out of Rydoo’s Lisbon office to hear her perspective.
8 Reasons Why Lisbon Is A Top Tech City for Developers To Live In
Are you in tech and looking to live in the next big tech city? Then look no further … Lisbon is the tech city for any developer to settle down in. Find out why!
The Best Way to Scan Receipts
There’s nothing quite like a shoebox full of receipts to instil in you a sense of impending doom. As more and more receipts pile up, you start to dread the inevitable Sunday afternoon that will be wasted on tediously entering numbers into an excel document.