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clausz | 1 year ago

When you get a company car your personal taxable income increases by 1% of the car's list price per month. Tax law assumes a 1% personal use of the car. You can avoid this tax by keeping a log book of all car rides indicating personal or business use. 1% of a $60,000 car is $7,200 per year. At a tax rate of 42% it's "several thousand Euros per year"

For EVs this tax was reduced to 0.25% to further incentivise the adoption.

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fredski42|1 year ago

In the Netherlands we need to add 22% of the list price to our income with the high income tax rate being 49.5%.