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V1225-20 4 May 2020 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · retribución en especie

Benefit-in-kind for renting vehicle use is calculated based on the market value of a new vehicle

A worker has requested clarification on how to value the benefit-in-kind for the private use of a vehicle under a renting agreement. The DGT clarifies that the valuation is 20% of the annual market value of the vehicle as if it were new, and this reference value must be maintained throughout the entire contract.

The question raised

Valuation of the benefit-in-kind.

The DGT's ruling

When the vehicle is not owned by the payer, the benefit-in-kind for its use is 20% per annum of the market value that would correspond to the vehicle if it were new. This market value shall be determined according to the tax period in which the renting or leasing contract was entered into. The valuation may be reduced by up to 30% if the vehicle is energy efficient according to the established emission limits and values. The remuneration includes insurance, taxes, and maintenance costs, but not fuel, which is considered an independent benefit.

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