The 2024 Budget Law amended the rules on fringe benefits (forms of remuneration in kind) for the 2024 tax year.
The exemption limit has been increased from €258.23 to €1,000 for all employees and to €2,000 for employees who claim dependent children. For children to qualify as dependent, they must meet the following requirements:
a) Earn less than €4,000 annually (if under the age of 24) b) Earn less than €2,840.51 annually (if over the age of 24)
In addition to benefits in kind, the fringe benefit exemption (up to the limit of €1000/€2000) also includes amounts reimbursed by the employer for the payment of household utility bills, the cost of renting a first home and interest on a mortgage for a first home.
