Thousands of people with company cars in Ireland will be hit with a huge tax hike of hundreds of euro this month.
This new calculation could almost double the tax employees already pay to operate a company car - with the average cost now rising to around €300 a month.Benefit-in-kind tax calculates the cash equivalent on perks that a company gives its employees such as a company car for those who have to travel for work.
President of the Vehicle Leasing Association of Ireland Michele Hanlon told the Independent that the new BIK tax on a Hyundai Tucson Diesel company car would increase from a cost of around €98 per month in 2022 to €294 per month in 2023. "The new rules have basically increased the potential [benefit-in-kind] BIK for drivers even those doing high mileage."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ulster Bank issue urgent warning as they continue to freeze accountsOver 70% of Ulster Bank personal account customers who received their first notification in April and May, have either closed, wound down the level of activity in their current account or left it inactive
Source: RSVPMagazine - 🏆 7. / 76 Read more »
Snow hits three counties as Met Eireann issue unusual double weather warningAs temperatures enter the minuses, people around the country have taken to twitter to share snow updates, with at least parts of Cork, Kerry, and Limerick receiving considerable snowfall.
Source: RSVPMagazine - 🏆 7. / 76 Read more »
Fears of pint price hikes as publicans issue warning over VAT increaseVintners are calling on the Government to extend the 9% VAT rate throughout 2023 ferghalthehack
Source: IrishMirror - 🏆 4. / 98 Read more »
Met Eireann issue fresh snow warning as brutal conditions due before big changeThe forecaster warning of “some accumulations” of snow and “icy stretches” before the weekend brings a big change in conditions
Source: IrishMirror - 🏆 4. / 98 Read more »
Icy roads and footpaths expected as ice warning in place nationwide this morningSome patches of freezing fog are forecast as part of a Status Yellow ice warning which is in place until 12pm today Sorry for being hypercritical here, but I don't think that's a responsible choice of stock imagery to use with this story. Driving with only part of your windscreen cleared in dangerous and, AFAIK, illegal.
Source: thejournal_ie - 🏆 32. / 50 Read more »
Nationwide ice warning in place as snow forecast for Kerry and CorkHighest temperatures of 1-4 degrees on Monday as weather to remain dry throughout the day
Source: IrishTimes - 🏆 3. / 98 Read more »