Company cars: New tax provisions
This circular illustrates the main innovations regarding the deductibility of costs and the deductibility of VAT relating to the means of transport used in the exercise of business, arts and professions introduced by Decree Law no.223 of 4 July 2006 ("Summer maneuver 2006") and no. 262 of 3 October 2006 ("Connected"), and updated by Decree Law no. 81 converted into Law no. 127 of 3 August 2007 (hereinafter the "Decree") published on the same date in the Official Gazette.
Topics index
- Regulatory framework;
- Vehicles with full deductibility of costs;
- Cars assigned to employees in mixed use;
- Cars for business use only;
- Cars used by professionals;
- Car of agents and representatives;
- VAT deductibility on non-instrumental car costs;
- Conclusions.