Invoices and receipts for employees’ expenses

• Companies can now keep employee expense receipts digitally, but must have robust internal procedures, including control functions, transfer and storage routines, and backup systems, to ensure all accounting information is preserved for the required seven years.
• Receipts must meet VAT Act requirements, including the seller’s VAT number and the buyer’s (company’s) name and address, though exceptions exist for certain expenses (like food or exercise) and simplified invoices under SEK 4,000.
• Special attention is needed for online purchases and credit card transactions, as employers risk losing VAT deductions if purchases are not made in the company’s name with its VAT number, and underlying receipts, not just credit card statements, must meet VAT requirements.

Source Tholin

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