Any news about the 10K additional reduction staying in 2024 in todays budget?
from revenue website:
This relief applies by reducing the Open Market Value (OMV) of the vehicle. The reduction which applies is as follows:
For 2023, an additional reduction of €10,000 can be applied to the OMV. This is provided for in the Finance Bill 2023."
from revenue website:
"2023 to 2025 extension of exemption
Your may choose to make an electric car available to your employee for private use in the future. Partial relief will apply in respect of cars made available between 1 January 2023 and 31 December 2025.This relief applies by reducing the Open Market Value (OMV) of the vehicle. The reduction which applies is as follows:
- €35,000 in respect of cars made available during 2023
- €20,000 in respect of cars made available during 2024
- and
- €10,000 in respect of cars made available during 2025.
For 2023, an additional reduction of €10,000 can be applied to the OMV. This is provided for in the Finance Bill 2023."