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Replacing company vehicles from 1st April 2017

Among the changes included in the Taxation (Business Tax, Exchange of Information & Remedial Matters) Bill; there is an amendment that allows close companies that provide motor vehicles to elect to apportion expenditure on motor vehicles the company provides to shareholder-employees between business use and private use as an alternative to paying Fringe Benefit Tax (FBT) on the motor vehicle.

Published: Feb 01 2017

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