Finance Ministry to halve VAT refund for company cars

The Finance Ministry says it wants to halve VAT refund for company cars that are also used for private purposes. This will make cars a tenth more expensive for businesses. The aim is to increase tax revenue and make the tax system fairer. According to the Ministry, many “company cars” are in fact used exclusively for private purposes. The proposal will not affect companies who use vehicles exclusively for business.

(tvnoviny.sk)