In addition, the total amount of kilometers driven in a calendar year also affects this calculation, as explained by a publication from Le Service-Public. The larger the engine, the higher the rate. The French define standard rates per kilometer for driving depending on your vehicle's engine size, defined in horsepower (cheval fiscal, CV). The German Ministry of Finance (Bundesministerium der Finanzen), defines standard mileage rates for driving (separate rates for motor vehicles and motorcycles). In Germany, reimbursement of mileage expenses in called Pauschale Kilometersätze. This tax law also defines standard mileage rates for cars, motorcycles and even bikes! Germany In the UK Mileage Allowance Payments for employees are exempt from taxes up to an ‘approved amount’ which is calculated based on the amount of miles driven by the employee per year. HM Revenue and Customs (HMRC) provides a working sheet for mileage allowance and travel payments for employees traveling to work and/or on business. Check out the 2016 IRS publication for standard mileage rates for more info. The standard mileage method is the most common method used by individuals and provides mileage rates for travel on several key purposes, including: business, medical or moving and for charitable organizations. Both methods require proof in the form of a logbook and/or original receipts. The IRS defines two methods for deduction of driving expenses: the actual expenses method and the standard mileage rate method. Psngr app automates this tedious task for you and supports the standard mileage rates in all these countries listed below. You almost always need proof of your expenses - in the form of a trip log book and/or original receipts - in order to deduct travel expenses. Within each country, you will find clear regulations defining which expenses are deductible, who can deduct them, and how it should be done.
Several countries around the world accommodate for tax-deduction of travel expenses for various purposes. If you travel on a daily basis, you may be eligible for a hefty tax return on your travel expenses. 5 min read Photo by Denys Nevozhai / Unsplash.
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