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New tax regime for company cars: higher taxes to be expected
By Guido De Wit on 13 February 2012
Categories: Company cars, Tax
Guido De Wit, lawyer at Linklaters (Brussels bar), explains the new tax regime for company cars in Belgium.
This new tax regime will probably result in higher taxes, both for the employees and the companies. The new tax formula takes into account not only the CO2 emission of the car, but also the catalogue price. For small cars and for cars with a low CO2 emission, there will be no increase or even a small reduction of the taxable advantage, but for more expensive cars, the taxable advantage will be substantially higher.
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