Mileage log and income tax – how to claim vehicle costs
If you use a vehicle for business, the link between the mileage log and income tax is key to claiming costs correctly. The mileage log proves which journeys related to earning income and is the documentation your accountant works from. SaveTrack creates it automatically from GPS data, so you have the evidence with no manual re-typing. The tax framing follows Slovak practice; check the rules in your own country.
Why the mileage log matters for income tax
The relationship between the mileage log and income tax is simple: if you want to claim vehicle costs as tax-deductible expenses, you must be able to prove the journeys related to the business. The mileage log is precisely that evidence, recording the date, route, number of kilometres and purpose of the journey.
Without credible records the tax administrator may challenge the costs. It is therefore important to keep the mileage log continuously and accurately. Always assess the specific method of claiming and the scope of expenses with your accountant or tax adviser, since it depends on your business structure and the way you keep records.
Which vehicle costs can be claimed
Tax-deductible expenses generally include costs directly related to operating the vehicle – fuel, servicing, insurance and, where the vehicle is part of business assets, depreciation. The scope and conditions are governed by income tax law.
If you also use the vehicle privately, part of the costs generally cannot be claimed in full. This is exactly where the mileage log helps, making it possible to distinguish business from private kilometres. Have the precise rules and ratios confirmed by a professional.
Distinguishing business and private journeys
For costs to be claimed correctly, it is essential to separate which journeys were business and which private. SaveTrack lets you mark the character of every journey and then export an overview your accountant can use as documentation.
Automated classification reduces the risk of errors and saves time at the end of the month. Instead of filling data in retrospectively, you have the overview continuously as the journeys happen.
How SaveTrack simplifies record-keeping
From a Teltonika GPS device, SaveTrack creates an automatic mileage log – recording routes, distances and times with no manual re-typing. The driver or administrator simply marks the journey as business or private.
An export for your accountant is a few clicks away, in a format that can be attached to your accounts. The data updates with a latency of around 60 seconds while driving, so you have a current overview of the vehicles.
What to watch out for
A mileage log must be kept truthfully and continuously – reconstructing journeys after the fact is error-prone and can be problematic during an inspection. We therefore recommend automating the records rather than relying on memory.
Since the tax assessment depends on the particular situation, this article is informative in nature. Always discuss the final decision on how to claim costs with an accountant or tax adviser.
FAQ
Is a mileage log mandatory in order to claim car costs?
The mileage log serves as evidence demonstrating the connection between journeys and the business. Assess the specific obligation and alternative ways of keeping records with a tax adviser according to your situation and how you claim expenses.
What data should a mileage log contain?
Generally the date of the journey, the route, the number of kilometres and the purpose. SaveTrack records this data automatically from GPS and adds a business/private marking.
Can a SaveTrack export be used directly by an accountant?
Yes, you export the journey overview to a file your accountant can use as documentation. We recommend agreeing the format and scope with your accountant in advance.
What if I also use the vehicle privately?
Then it is important to distinguish business and private journeys. SaveTrack lets you mark journeys and export them separately. Discuss the scope of claimable costs with an adviser.
Want a mileage log with no manual re-typing? SaveTrack creates it automatically. Call +421 908 918 880 or write to info@savetrack.sk.
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