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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

 

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

 

Steamships, tugboats and ships used in the fishing industry

6%

Sailings vessels                                                        

4 1/2%

Ship launching machinery           

12 1/2%

Used ships        

in 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

 

All tools in general

33 1/3 %

Specialised fixed assets

 

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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