Tax advantages of electric vehicles for SMEs

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Electric mobility is the present and future, and the Public Administration incentivizing it with tax advantages for SMEs is a fact. The purchase of electric cars has been set as a goal, facilitating their acquisition. The renewal of the vehicle fleet is necessary, and to achieve this, they offer tax advantages for electric cars for SMEs.

IRPF Bonus

SMEs can receive bonuses of up to 65%. The savings directly affect both the employee and the employer.

  • There is a 30% reduction for energy-efficient vehicles. In this case, a vehicle will not cost more than 40,000 euros.
  • There are 20% reductions for hybrid cars, thus bringing the car down to less than 35,000 euros.
  • Finally, cars whose official CO2 emissions do not exceed 120 g/km in compliance with European regulations. These receive a 15% discount on the IRPF, bringing the car to less than 25,000 euros.

Registration Tax

The tax advantages of electric cars for SMEs go further. All companies that opt for fully electric vehicles will have their registration tax waived and will benefit by up to 75% on the tax for mechanically propelled vehicles.

SMEs acquire an electric vehicle

If you are self-employed or have an SME, this is of interest to you…

All these aids provided by the Public Administration are designed for companies to see electric mobility as a good reason to invest in exchange for a more sustainable and ultimately better world.

In addition to all of them, it is important to highlight the financing aids currently being offered by some private institutions. An example of this is Banco BBVA, which, thanks to its Sustainable Vehicle Loan, facilitates the acquisition of electric and hybrid cars. This plan is exclusively aimed at SMEs and self-employed individuals, with the option to pay it off over 8 years and a fixed interest rate of 3.75%.

That is why we see it as a good time for SMEs to strengthen themselves through these measures that can greatly benefit them. They will enjoy these advantages and the inherent benefits of having an electric vehicle. They will feel the savings in their pockets by not paying for gasoline in a company car (something that can be quite noticeable) and will be enriched by the bonuses we have listed above, which is certainly worth considering.