Annual Wear And Tear Allowances

Annual wear and tear allowances are calculated as a percentage on the cost of acquisition of the asset used in the business and are deductible from taxable income.

Plant and machinery Rate
Forklifts, excavators, loading vehicles, bulldozers and oil barrels 25%
Motor vehicles of all types except for private saloon cars 20%
Personal computers (hardware) and operating software 20%
Application software
– up to and including €1.709 100%
– above €1.709 33 1/3%
Plant and machinery used in agriculture* 15%
Water drillings, industrial carpets, video recorders, televisions* 10%
Any other plant and machinery* 10%
Furniture and fittings 10%
*if acquired between 2012-2018 20%
Buildings Rate
Metallic frame of greenhouses 10%
Wooden frame of greenhouses 33 1/3%
Industrial, agricultural and hotel buildings** 4%
Commercial buildings 3%
**Industrial and hotel buildings acquired between 2012-2018 7%
Ships Rate
Steamships, tugboats and ships used in the fishing industry 6%
Sailings vessels 4 1/2%
Ship launching machinery 12 1/2%
Used ships n accordance with special agreement
New commercial ships 8%
New passenger ships 6%
Used commercial and passenger ships and capital additions remaining useful economic life in accordance with the class certificate
Tools Rate
All tools in general 33 1/3 %
Specialised fixed assets Rate
Armoured cars (used by businesses which provide security services) 20%
Motor yachts 6%
Wind generators (the cost should include the cost of installation reduced by any amount of subsidy received) 10%
Photovoltaic systems (the cost should include the cost of installation reduced by any amount of subsidy received) 10%
New airplanes 8%
New helicopters 8%
Specialized machineries for rail roading (e.g. Locomotive engines, Ballast wagon, Container wagon and container sleeper wagon) 20%
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