Business Car Costs

Fuel for company cars:

According to the latest clarification document issued by the tax authority regarding the deduction of movement-fuel expenses for business vehicles, the limit for a simplified invoice (i.e. the receipt of a retail transaction) at €100.00, as is also the case for any other business expenses, it is enough to indicate the registration number with the gas station owner's stamp and signature on the receipt.

In conclusion:

• Fuel (petrol, oil, gas) up to €100.00  →  receipt, with stamp & signature of the gas station owner and the registration number
• Fuel (petrol, oil, gas) over €100.00 → invoice

Caution!! The simplified invoice (receipt up to €100.00 for business expenses) does not apply to purchases of goods and should be used as little as possible by businesses as a generalized use of retail receipts is not justified.

In addition, with regard to the costs incurred for vehicles that do not have a truck license, according to the VAT law, VAT is not deducted.

That is if we have an invoice from a repair shop for the repair of the car bought in the company worth 100.00+24.00(VAT), the 24.00€ of VAT will not be deducted from the VAT calculation, but only as an expense for the taxable result at the end of the year.