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Benefit in kind

When a car is provided by an employer to an employee or director and the beneficiary also uses the car for private purposes a taxable benefit in kind is generated.

This benefit in kind is subject to withholding taxes. The taxable value of the benefit is added to the taxable remuneration, the total is subject to withholding taxes. Benefits in kind are normally taxed on their market value. With regard to company provided cars the value is determined on a lump sum basis.

As of January 1, 2012 the taxable benefit is determined based on the catalogue value and the CO2 emission of the car. As of May 1, 2012 the benefit is amortized based on the age of the car. Per year the taxable benefit is reduced with 6% (with a maximum reduction of 30%, i.e. as of 5 years). The catalogue value is the actual value of the new car including the price of the options and the actually paid VAT. Discounts are not to be taken into account. However, promotional discounts which are published and applicable to everyone can be taken into account.

Benefit in kind for income year 2019 (Fiscal year 2020)

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