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The key criterion is that the expense must be wholly or partially incurred for business purposes. This means the expense should relate to your business activities.

A partial business expense is a cost for a service used for both private and business purposes—like a phone bill—where you may deduct only the business-use percentage of the amount (and the corresponding VAT).

You can submit expenses that cover both personal and business use, but you must estimate what % is related to business use and only request deduction for that portion.

💡Remember to let Xolo know how you’ve split the cost between personal and business use. Just be ready to show how you worked it out, if needed.

Guidelines for Deducting Unlisted Expenses:

• Business Necessity: Ensure the expense is essential for conducting your business. For example, specialized software or equipment unique to your profession may be deductible.
• Documentation: Maintain thorough records, including receipts and invoices, detailing the nature and purpose of the expense. Proper documentation is crucial for substantiating the deduction during potential audits.
• Reasonableness: The expense should be reasonable in amount and customary within your industry. Excessive or lavish expenditures may be scrutinized by tax authorities.
• Consultation: If uncertain about the deductibility of a particular expense, consult your accountant in Xolo or refer to the Dutch Tax and Customs Administration (Belastingdienst) guidelines for clarification.