Annual Wear And Tear Allowances
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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% |