Section RD 55 — Income Tax Act 2007: Private use of motor vehicle: taxable value in cases of part ownership

RD 55 Private use of motor vehicle: taxable value in cases of part ownership If a fringe benefit is provided by making available a motor vehicle to an employee for their private use, and the vehicle is owned in part by the employee (or, if section GB 32 (Benefits provided to employee’s associates) applies, a person associated with the employee), the taxable value of the fringe benefit is determined under section RD 56 or RD 57 . Defined in this Act: associated person , employee , fringe benefit , motor vehicle , private use , Compare: 2004 No 35 s ND 1T