Accounting and Fiscal Approaches Concerning the Motor Vehicles which Are Not Exclusively Used for the Purpose of Economic Activities

Bogdan Cosmin Gomoi
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Bogdan Cosmin Gomoi: "Aurel Vlaicu" University of Arad

CECCAR Business Review, 2020, vol. 1, issue 6, 21-29

Abstract: The entities owning motor vehicles have to pay particular attention to the applicable fiscal treatment regarding the value added tax and income tax. If the motor vehicles owned by the entities are not exclusively used for the purpose of economic activities, the entities have to take into account all the related fiscal implications, because if these are not considered, there is a risk that the fiscal authorities will establish additional taxes, including late payment penalties. In this article, we will refer to the accounting and fiscal aspects regarding the motor vehicles that are used both for economic activities and personal purposes.

Keywords: motor vehicle; VAT; income tax; limited deduction; leasing; the Fiscal Code (search for similar items in EconPapers)
JEL-codes: K34 M41 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ahd:journl:v:1:y:2020:i:6:p:21-29

DOI: 10.37945/cbr.2020.06.03

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