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Tax Code

Dáil Éireann Debate, Thursday - 15 November 2018

Thursday, 15 November 2018

Questions (57)

Paul Kehoe

Question:

57. Deputy Paul Kehoe asked the Minister for Finance if his attention has been drawn to the issues arising from increases in tax in 2019 due to the changes in the cap on benefit-in-kind for electric cars for PAYE workers (details supplied); if assistance is available in these cases; and if he will make a statement on the matter. [47531/18]

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Written answers

Section 9 of the Finance Bill 2018, as published, provides for an extension of the benefit-in-kind relief for electric vehicles until end 2021.

In consideration of value for money and tax equity reasons, a cap of €50,000 on the original market value of electric vehicles availing of the relief is introduced. While the 0% rate is available on the value up to €50,000, the standard rate BIK calculation applies on anything in excess of that amount. As BIK is calculated for each tax year during which the BEV is made available, this cap applies to all relevant vehicles made available to employees in the tax years 2019 to 2021.

Report Stage of the Finance Bill will commence in the Oireachtas next Tuesday, 20th November.

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