What is a refund?
A refund is a term that can be used in many contexts, often related to the repayment or compensation for the payment of a good or service.
It is also used in the context of businesses, governments, or other organizations. For example, there are VAT refunds where companies can get VAT refunded on travel expenses such as accommodation and meals when traveling abroad.
You can claim your foreign VAT and have it refunded with Acubiz
At Acubiz, we can help you apply for a refund of foreign VAT to get your money back. We handle everything so you can save time (and money).
Types of refunds
Healthcare
In Denmark, you can receive a refund if you have received treatment abroad. You can get all or part of your expenses refunded if you have been sick while on vacation. You may still receive a bill for treatment or medication, which you can apply for a refund for if the bill does not relate to a co-payment.
Application for refunds is made on the Danish Patient Safety Authority’s website, where you can read more about the refund.
Sick pay
If you are an employer and have an employee who has been sick for more than 30 days, where you still pay salary during the sick leave, you can get sick pay refunds from the employee’s municipality of residence. The refund will correspond to the sick pay your employee would have been entitled to if you did not pay them.
Application for sick pay refunds is made through NemRefusion on virk.dk.
Expense refunds
It is called an expense if you advance money for someone and pay out of your own pocket. It is also a type of refund because the person is refunded later. This often happens in a work context where an employee pays for coffee, lunch, parking, or a taxi during a sales meeting or conference.
You can handle expenses automatically with Acubiz
With Acubiz, employees can easily and quickly register an expense in the app and get the money refunded in the next salary.
Instead of collecting receipts in a pile until the end of a month, employees can take a picture of the receipt, register the expense in the app, and get approved by the finance department.
In addition to ensuring more accurate bookkeeping, it makes employees’ everyday lives easier, where expenses can be registered on the go.
VAT refunds
In Denmark, companies can get the VAT paid for travel expenses abroad refunded. VAT refunds apply, for example, to hotel stays and accommodation, access to trade fairs, or domestic transport by plane, taxi, or train.
You can read more about the requirements on the Danish Tax Agency’s website.
Do you want to know more?
At Acubiz, we are happy to handle your application for a refund of foreign VAT. We also offer other solutions for your company.
Contact us if you want to know how we can help your business or book a free online demo to learn more.