05 June 08
Company cars - advisory fuel rates increase from 1 July 2008

The Revenue have agreed to a change in the advisory fuel rates to reflect the ever increasing cost of fuel. The Revenue have announced the rate changes now, with effect being from 1 July 2008. However, the Revenue have indicated that where an employer is in a position to do so, the new rates can be implemented immediately.

The Revenue have also indicated a change in the review procedure for fuel rates in the future, with the implementation of half yearly reviews of the advisory fuel rates. The fuel rates will be reviewed twice a year in light of the fuel cost at that time and the Revenue will introduce revised rates where necessary on 1 January and 1 July respectively. The Revenue have also indicated that they intend to make immediate changes to the fuel rates in instances where the fuel price increases by more than 5% from the last review date.

Please follow the click here for the revised fuel rates.