On 6 April 2012, the program law of 29 March containing amendments and clarifications of the measures introduced by the Act of 28 December 2011, was published.
The personal income tax provisions recorded in this recent act concern, amongst other things, company cars. The act confirms the proposed changes in the valuation of used cars, i.e. the catalogue value of the company car can be depreciated by 6% on each anniversary of the date of the first registration of the car (with a minimum value equal to 70% of the original catalogue value). For withholding tax purposes, this calculation method will only apply as from 1 May 2012.
