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Crash in a company car? The taxman treats the insurance payout as 100% taxable income
๐Ÿ“ˆ Business

Crash in a company car? The taxman treats the insurance payout as 100% taxable income

Polish tax authorities treat insurance compensation for repairing a company car as 100% taxable income for the business owner, subject to both income tax and health insurance contributions. Yet repair costs can only be deducted at 75%, creating a situation where a minor accident can cost an entrepreneur more than the repair itself.

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