Writing everything off as a business expense
A few months ago I moved to cyprus and coming from Germany with its horrendous practices when it comes to accounting, tax and business expenditures, I feel already very comfortable here in CY…even the people are so much friendlier and open.
Recently, I‘ve met some cyprus locals that told me you can almost certainly categorize almost every expense as a company expense here (although some things would be ridiculous) for example a Jetski ride put off as „entertainment with business clients“. Or allocating your rent as a business expense. Or a new private vacuum cleaner as a office equipment.
So it got me thinking, how strict the tax officials are here regarding these types of expenses. Does anyone here have a good experience as a local and how these things are seen here? Can I for example purchase a suit as I would need it to dress infront of business clients? Or a new watch/phone?
Can I buy a horse and write it off as a business expense?