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Germany 1 Percentage Changes Rule tax on company cars.
Posted by Oliver Heslop in Global Expatriate Tax 0 comments.
Germany has introduced changes to the way it taxes company cars that are classified for personal use Basically, the changes have an extension of the current rule 1, and they mean that any employee who has been given a car company that can be used for personal purposes will be taxed according to this rule 1 only employees who are not given the right to use their car for personal use will prevent tax employees are asked to keep a diary detailing when they use the car for personal conduct, and when they use it for corporate purposes.
Germany uses what is called Rule 1 to determine the taxable value of a company car Previously, when a company car was used for personal purposes, a taxable value was determined by calculating the price 1 gross list for the car the distance traveled in kilometers for personal use is multiplied by 0 03 before then be multiplied by the assessed value to give the amount of tax that would need to be paid These non-monetary benefits taxable payroll in solidarity supplement and church tax, where applicable.
Under the previous law, only employees who actually use their company car for personal mileage are subject to these rules and taxes imposed on non-monetary benefits However, the new rules mean that if an employee is entitled to use their cars for personal use then they will be exposed to rule 1, even if they do not really use the car to cover the employee personal miles must be strictly forbidden to use the car for personal matters, in order to be exempt from the rule 1.
Employees who keep a diary highlighting their exact personal and business use of their company car can be better The logbook must comply with strict guidelines, and it should include all information related to the personal use of the car, including the date, time and the distance that has been covered for business use, additional information such as the person visited and purpose of the visit should also be included.
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