The updated benefit in kind for the private use of a company car – 12 months delay for a significant tax increase?
Executive summary Due to the acceleration of the electrification of the fleet, employees driving a combustion engine car were faced with an approx. 10% increase of the benefit in kind company car as of 2024. To mitigate the related tax cost for the individual, the Minister of Finance has announced a change in the calculation
Company cars: the list of false hybrids has been updated
Over the past few years, the taxation of cars has been linked more and more to their ecological footprint, and more specifically, their CO2-emission. This is not different for hybrid cars. A few months after the previous update, the list of corresponding vehicles for “fake hybrids” has been updated again earlier this week. You can
Company vehicles: CO2 solidarity-contribution
The CO2-emission is and remains key when taxing cars in Belgium. In a previous newsflash, we’ve already explained which CO2-emission (NEDC, NEDC 2.0 or WLTP) should be used for tax purposes in the coming year(s). Now, also the National Social Security Office (NSSO) has confirmed that, in absence of new legislation, they will keep following
Benefit in kind – Private use of a company car: updated formula for 2021
The new reference CO2 emission for calculating the taxable benefit in kind for the private use of a company car in the hands of company directors and employees has been communicated on 15 December 2020 (a Royal Decree will follow as soon as possible). For income year 2021, the following CO2 emission will be applied
Company cars: the list of false hybrids has been updated
Over the past few years, the taxation of cars has been linked more and more to their ecological footprint, and more specifically, their CO2-emission. This is not different for hybrid cars. Half a year after the previous update, the list of corresponding vehicles for “fake hybrids” has been updated again. You can find the list
New lump-sum amount for reimbursement of business use of private car
Employees using a privately-owned car for business purposes can now be reimbursed a lump-sum amount of EUR 0,3542 per kilometer. Costs that an employee incurs when using a privately-owned car for business purposes can be reimbursed by the employer free of income tax and exempt from social security contributions. Repayment can be made on a
Royal decree implementing the mobility budget published
On the 29th of March the law of 17 March 2019 concerning the introduction of a mobility budget was published together with a royal decree implementing this law. In comparison with the draft law no changes were made to the published law. It is mainly the royal decree, which implements the law concerning the mobility