Buying a car always involves a significant expense. In fact, many families often postpone this choice precisely because of the heavy impact on family budgets. This is also why the cars circulating in our country are often dated and polluting. There are, however, several tax breaks that can allow us to save even considerably. In this article we will go into more detail on how to pay less for a new car thanks to tax deductions for both individuals and businesses.
The deductibility for VAT numbers
The holders of VAT number they can deduct the cost of the vehicles both at the time of purchase and subsequently. In fact, depending on the activity carried out, companies can obtain variable tax discounts on both VAT and IRPEF. Pursuant to DPR 633/72, the percentage of VAT deductibility is equal to 40% of the tax paid. The same percentage also applies to deductions for subsequent expenses such as maintenance, repairs and fuels. The VAT deduction rises to 100% for companies that use vehicles for the exercise of their main activity. Like, for example, taxi drivers or renters. Professionals not subject to the application of the VAT field, such as doctors and financial promoters, will therefore not be able to deduct this tax.
The deductibility for some categories
Some categories of workers, while not carrying out trucking activities, use cars a lot. In fact, those who travel many kilometers every year have to incur huge expenses for ordinary and extraordinary maintenance. In addition to costs for fuel and motorway tolls. The 2017 Stability Law amended article 164 of the TUIR, inserting some changes in favor of commercial agents. The latter can now deduct the cost of the car from their income up to over 25,000 euros. The same rule also extended the benefits of the deductibility to the long-term rental formula. The editorial staff of ProiezionidiBorsa has recently investigated and analyzed the advantages and disadvantages of this mode of car management.
How to pay less for a new car thanks to tax deductions
Even private citizens can buy a car benefiting from important tax breaks. While VAT number holders can deduct and fiscally deduct a large part of the costs, private individuals do not have this option. However, eco-incentives of up to 10,000 euros provided for by the Relaunch Decree are available for them. In addition to tax and environmental sustainability incentives, some regulations protect people with disabilities. For them and for their families, the legislation provides for the application of reduced VAT and other economic incentives.