How will the taxed fringe benefit for a car be calculated?

  • Modified on: Wed, 28 Mar, 2018 at 3:45 PM

If an employer provides a car to the employee and private use is allowed (commuting included), 15% of the original new car value, including turnover tax and the import duties has to be taxed as the taxable fringe benefit for a company car. The taxed fringe benefit for the car, therefore, amounts to 15% per year based on the original value for new, also referred to as catalogue value including turnover tax.

In Suriname payrolls this taxed benefit is not 15% but 2% of the new car value.

A personal contribution of the employee for the company car should be deducted from this taxed fringe benefit.

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