BIK Tax Calculator
Benefit In Kind Tax calculations based on paying top tax rates for tax year 2022.
Current car first provided in tax year
Original market value (OMV) of the vehicle
Annual Business Kilometres:
Do you work at least 20 hours per week and
spend at least 70% of your time away from the office?
No. of weeks the car was available to you or your family:
Taxable value of the Benefit In Kind:
(You have to pay Tax and PRSI on this amount)
Annual BIK Tax DUE ( 52% of the BIK amount):
Monthly BIK Tax DUE ( 1/12th of the tax due above):
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*Electric cars and vans are exempt from BIK tax up to 31st December 2022
For the years 2023 – 2025
The BIK on electric vehicles will be calculated based on the actual open market value of the vehicle reduced by:
• €35,000 for vehicles made available in the 2023 tax year
• €20,000 for vehicles made available in the 2024 tax year
• €10,000 for vehicles made available in the 2025 tax year
This reduction applies irrespective of the actual OMV of the vehicle or when the vehicle was first provided to the employee.
If the reduction reduces the OMV to nil, a BIK charge will not arise. Any portion of OMV remaining, after the reduction is applied, is chargeable to benefit-in-kind at the prescribed rates.