Slovakia Tax Agency Issues Guidance on Depreciation for Electric Vehicles

The Slovak Financial Administration Jan. 21 issued guidance on calculating depreciation on electric vehicles under the Income Tax Act. The guidance includes: 1) passenger car classifications eligible for benefits as electric vehicles as of Jan. 1, 2020; 2) the depreciation schedule for electric vehicles purchased in 2019; 3) transitional provisions for electric vehicles purchased before Dec. 31, 2018; and 4) rules for depreciation on electric vehicles that cost over 48,000 euros (US$53,236) for the 2019 period and the period before Dec. 31, 2018. [Slovakia, Financial Administration, 01/21/20]

Reference:
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