Benefit in kind – Company cars – New scale (as from 1 January 2009)
Context
As you know, the private use of a company car by an employee results in a taxable benefit for the individual.
A practice note fixes the total number of private kilometres taken into account to determine the benefit in kind for the private use of a company car to 5.000 km or 7.500 km, depending on whether the distance between the home and the fixed place of business is lower or higher than 25 km.
The taxable benefit in kind is then computed by multiplying this number of kilometres by a coefficient, which represents the amount of benefit per kilometre. This coefficient depends on the fiscal horsepower of the vehicle.
News
The new coefficients for computing the taxable benefit in kind for income year 2009 have been published on 26 January 2009 the Official Gazette(*). Please find below the new scale classified by fiscal horsepower (FHP):
4 FHP: 0,1750
5 FHP: 0,2054
6 FHP: 0,2270
7 FHP: 0,2511
8 FHP: 0,2739
9 FHP: 0,2980
10 FHP: 0,3297
11 FHP: 0,3614
12 FHP: 0,3830
13 FHP: 0,4071
14 FHP: 0,4223
15 FHP: 0,4401
16 FHP: 0,4527
17 FHP: 0,4616
18 FHP: 0,4730
19 FHP: 0,4819
more than 19 FHP: 0,4819
(*) http://news.hrservices.be?lk200902021
Posted: February 2nd, 2009