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| Headline news of Monday 12 February 2007 : |
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Benefit in kind - Company cars - New scale (as from 1 January 2007)
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 office 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 2007 have been published Friday in the Official Gazette(*). Please find below the new scale classified by fiscal horsepower (FHP):
4 FHP: 0,1649
5 FHP: 0,1936
6 FHP: 0,2139
7 FHP: 0,2366
8 FHP: 0,2581
9 FHP: 0,2808
10 FHP: 0,3107
11 FHP: 0,3406
12 FHP: 0,3609
13 FHP: 0,3836
14 FHP: 0,3980
15 FHP: 0,4147
16 FHP: 0,4267
17 FHP: 0,4350
18 FHP: 0,4458
19 FHP: 0,4541
more than 19 FHP: 0,4541
(*) http://news.hrservices.be?lk200702091
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