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V3562-20 16 December 2020 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · rentas en especie

Vehicle insurance in renting schemes now included in benefits-in-kind valuation for personal use

A company queried whether insurance for vehicles under renting agreements should be added separately to the valuation of benefits-in-kind for private use. The Directorate-General for Traffic (DGT) responded that insurance is already accounted for within the 20% annual percentage of the vehicle's market value.

The question raised

Inclusion of vehicle insurance in the valuation rule of Article 43.1.1.b) of Law 35/2006.

The DGT's ruling

Remuneration in kind for the use of vehicles includes all expenses that allow the vehicle to be placed in a condition for use, such as insurance, municipal taxes, or maintenance. These concepts do not constitute additional remuneration. Insurance is included in the valuation whether it is part of the renting contract or contracted separately.

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