You drive a car in the context of your business? Good news, you can deduct it as a business expense.
What can I deduct?
You can deduct the car and car-related expenses:
Leasing
Insurance
Road and registration taxes
Fuel
Accessories
Maintenance & repair costs
Car wash
Parking
How much can I deduct?
You can deduct your car expenses for both VAT and income tax.
For VAT, typically 35% is deductible as a flat fee (100% for utility vehicles, or if you are a professional driver)
For Income tax, the amount depends on the Co2 emissions of your vehicle, and according to the following formula: 120% – (0.5% x coefficient x CO2/km)
The CO2/km, you will find it in the documents of your vehicle. The coefficient will be as follows:
Diesel and hybrid variants: 1
Natural gas (below the 11 fiscal horsepower): 0,90
Gasoline: 0.95
Electric vehicles: how to chose your next car
How to encode your car model in the app?
To calculate the precise deductibility of your car expenses, we need to know which car you drive. This is how you let us know.
The deductibility of your car expenses is directly related to the type of car you drive. That's why we need to know which car you used for your car expenses.
To do this, you just need to open your car expenses of the year you want to submit your income tax return for and add your vehicle, like in the screencast below.
If you have any questions, please feel free to contact us via chat or by email to the following address: support@accountable.eu