The value of the Company Vehicle now has to include VAT and any Maintenance Plans, when calculating the total value of the vehicle for Fringe Benefit tax purposes.
The question was asked about whether or not the depreciated value (i.e. at the depreciated rate of 15% per annum) could also be taken into account when determining the “present” value of the vehicle, even if the vehicle had not changed hands. SARS has confirmed that you cannot reduce the original base value of the car by the 15% per annum depreciation allowance, unless the vehicle has changed hands (i.e. been provided for use by another employee).