22.01.2024 Tax and Customs

Partner Jaak Siim article “Compensation for the use of a personal vehicle”

In the last two issues of 2023, the financial and legal magazine RUP published the article “Compensation for the use of a personal vehicle” by Jaak Siim, a partner at Cuesta Law Office, in two parts. Using explanatory examples, the article gives an overview of the prerequisites for the payment of compensation to the persons entitled to it for the use of a personal vehicle for business journeys, which must be taken into account when compensating for journeys and how to declare the payment of compensation.

Among other things, the article discusses the following topics:

📍 vehicles for the use of which compensation is payable;

📍 the circle of persons entitled to compensation;

📍 documents that are a prerequisite for the payment of compensation;

📍 limits of tax-free compensation;

📍 exemption for journeys between the place of residence and the place of work;

📍 declaration of compensation to be paid.

The topics covered in the article also include illustrative examples.

The full article is available to the subscriber of the magazine and the registered user of the RUP portal.