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: decrease of the lump sum benefit in kind will no longer be possible
If we’re talking about company cars, there’s one element that keeps on coming back over the past few years: our fleet needs to become greener. Now, the Belgian parliament has introduced a Proposal of Law (Doc 55 0904 – 2019/2020)which is (again) looking at the reference CO2-emission which is used to determine the taxable benefit
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
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. The taxable benefit in kind, the deductibility rate, registration taxes, … all of these depend on the CO2-emission of the car. Especially for the so-called ‘fake hybrides’, there has been quite
NEDC vs NEDC 2.0 vs WLTP: new (updated) FAQs regarding the percentage of deduction of professional car expenses and calculation of the BIK for employees
A new FAQ has been published by the Belgian Tax Authorities that explains which CO2 emission value has to be used for the calculation of the deductible rate of company car expenses (FAQ, 25 March 2020). Indeed, using the WLTP or even the NEDC 2.0 emission value will lead to an increase of the car
Benefit in kind – Private use of a company car: updated formula for 2019
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 published on 27 December 2018 (Royal Decree of 19 December 2018). For income year 2019, the following CO2 emission will be applied to the above
