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09May

New scale of deduction of costs for company cars

 

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As you may know, subject to exceptions, company car related costs are deductible up to 75% from the employer’s taxable basis.

News

Under article 84 of the program-Act of 27 April 2007 (Official Gazette of 8 May 2007), the percentage of a company car related costs that will be eligible for a corporate tax deduction will depend on the C02 emission, effective April 1, 2007. The lower the CO2 emission, the higher the percentage of the car costs eligible for the deduction. The deductible percentage will vary from 60% to 90%.

The new scale of deduction is available at http://news.hrservices.be?lk200705091

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Posted: May 9th, 2007