Electric vehicles – Exemption from BIK
As an employer or company director, you may choose to make an electric car available to your employee or yourself as a director for private use between now and 31 December 2019.
Where this occurs, no charge to BIK arises in respect of any use by your employee where either of the following apply:
- the OMV of the car is €50,000 or less or
- you first made this car available to your employee between 10 October 2017 and 9 October 2018.
Where neither of the above apply, only a partial exemption is available. This is granted by reducing the OMV by €50,000 when calculating the cash equivalent for the car.
Subject to qualifying conditions and criteria
Any queries give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie