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When can I deduct bank account management fees?

The tax office recognises a lump sum of 16 Euro per year for work-related transfers as income-related expenses without proof. Amounts exceeding this are only deductible as income-related expenses for the portion attributable to the booking of salary credits.

You can also declare costs for work-related transfers, e.g. to pay invoices for work equipment, in your tax return.

When can I deduct bank account management fees?



Can I also deduct credit card fees?

Yes, that is possible. However, only if you can prove that you use the credit card almost exclusively for business trips. Otherwise, you should split the costs of your credit card into a private and business part.

Determine the business usage percentage. The cost portion attributable to business use can be deducted as business expenses.

There is no specific proof required for these costs. One option would be to include copies of credit card statements for three consecutive months of the tax year. Clearly indicate which portion of the credit card transactions was business related. You can then claim this percentage of the credit card fees in your tax return.

Can I also deduct credit card fees?

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Bank account management fees

Account management fees are always recognised by the tax offices as income-related expenses with an allowance of 16 Euro per year without proof.

The amount of 16 Euro is an annual sum. You can also deduct this amount even if you open an account in December. You may claim this amount even if the employer reimburses you for account management costs. The reimbursement of costs is taxable and will be taxed together with your salary.

Important: If you have a free-of-charge bank account for which there are no account management fees then, unfortunately, you cannot claim the allowance.