VAT Alert (14/12/2012)
New VAT regime company cars as of 2013 - Final guidance to be published soon
In October 2011, the VAT authorities published guidelines on the limitation of VAT deduction for business assets used partly for private purposes, company cars in particular. This new VAT regime was postponed (see our 11 January 2012 VAT alert). However, this suspension is coming to an end as it has been announced that the ‘addendum’ on the 2011 guidance will be published soon. The final details of this guidance, which aims at making the new regime workable for the industry, are already in circulation. A brief outline of the practical implications is provided below.
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