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Personal Income Tax deduction for electric cars

Two new personal income tax deductions have recently been approved to encourage the use of electric vehicles, plug-in hybrids, and similar.

1. Deduction for the purchase of new vehicles

Firstly, a deduction of 15% of the vehicle’s purchase value has been established once subsidies have been deducted. The maximum deduction base is 20,000 euros, so the conclusion applicable to the personal income tax liability can be up to 3,000 euros. For this, among other requirements, the following must be met:

  • The vehicle is acquired between 30 June 2023 and 31 December 2024.
  • If the vehicle is acquired from 1 January 2025 but between 30 June 2023 and 31 December 2014, payments are made on an account representing at least 25% of its acquisition value.

2. Deduction for the installation of battery recharging systems

On the other hand, another deduction has been established for the installation of battery recharging systems for electric vehicles between 30 June 2023 and 31 December 2014. The maximum annual base for this deduction is 4,000 euros, so the full yearly deduction applicable is 600 euros.

To apply the two deductions above, the vehicles and the battery recharging installations cannot be used for an economic activity.
You can see the regulatory bases of the subsidy. Remember that you can count on Leialta as your accredited consultancy to benefit from the aid.

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