Wear and Tear allowances are the substitute of depreciation and they represent a tax deductible allowance for the wear and tear of assets used in the business. Wear and tear allowances are available to companies and individuals who prepare accounts.

The current wear and tear rates are:

Plant and machinery

Fork lifts, excavators, loading vehicles, bulldozers and oil barrels	25%
Motor vehicles except from private saloon cars	20%
Personal computers (hardware) and operating software Application software> up to €1.708,60 above €1.708,60	20%   100% 33.33%
Plant and machinery used in agriculture	15%
Water drillings, industrial carpets, video recorders, televisions	10%
Any other plant and machinery	10%

Buildings

Metallic frame of greenhouses	10%
Wooden frame of greenhouses	33.33%
Industrial, agricultural and hotel buildings	4%
Commercial	3%

Ships

Steamships, tug-boats and ships used in the fishing industry	6%
Sailings vessels	4.5%
Ship launching machinery	12.5%
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	33.33%
Videotapes used by video clubs	50%