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Investing in your business with the EIA, MIA and VAMIL
As an agricultural entrepreneur, are you planning to invest in environmentally friendly techniques and/or sustainable energy and energy-saving means in 2022? Then you can make use of tax schemes. Provided that your intended business asset is on the Energy or Environmental List of 2022.
Find out what benefits you can get this year with the EIA, MIA and Vamil.
What is the EIA?
The Energy Investment Allowance (EIA) applies to investments in energy-efficient equipment or sustainable energy technologies. With this arrangement you can deduct 45,5% of your investment costs from your taxable profit. This saves you on income or corporate tax. Lourens Minnema, Business Adviser tells you more about it in his article.
What is the MIA?
The Environmental Investment Allowance (MIA) gives you a tax advantage when investing in sustainable business assets. Depending on the asset in which you invest, you can deduct 27, 36 or 45% of the investment amount. The MIA is often combined with the Vamil.
What is the Vamil?
The Random Depreciation of Environmental Investments (Vamil) allows you to write off 75% of your eco-friendly investments at any time. Random depreciation means: at a rate of your choice. You do write off the other 25% on a regular basis.
In this article about the MIA and Vamil read more about the conditions. You can also read how you can combine these schemes.
Regulations per sector
It differs quite a bit whether you are active in arable farming, dairy farming or intensive livestock farming. Because there are different schemes for every type of company. Which change every year. That is why we list the most important things for you.
Arable
A number of changes have been made in the field of the EIA, MIA and Vamil for the arable farming sector. Mostly positive. For example, the maximum investment amount has been increased for the airtight air distribution system, insulation of existing structures and HR glass. And you can now also request MIA and/or Vamil for an electrically driven weeding bed and a rain or flushing water storage for diluting manure. Account manager Andries Francke sums up all the changes for you.
Dairy farm
To be eligible for the EIA, MIA and Vamil, the investment you make must be on the 2022 Energy or Environmental List. Because these are extensive lists and not every part applies to you as a dairy farmer, Flynth's specialists have prepared a white paper for you. This way you can see at a glance which codes are important to you. You can download the white paper free of charge at the bottom of this article. In this article you can also read more about the requirements associated with building or renovating a barn.
Intensive livestock farming
The Flynth consultants have also made an overview of all business assets that are relevant to you as a pig or poultry farmer. This is included in a separate white paper. In this whitepaper you can also read immediately which important changes there are compared to 2021. Great, so you don't have to go through the entire Environmental and Energy List 2022. You can download the white paper free of charge here.
Contact with Flynth
Do you have questions about the EIA, MIA and/or Vamil? Or about the investments you are going to make? Flynth's advisors are at your service. With specific industry knowledge and years of experience, they support you with every question. Get in touch through it contact form. or make an appointment at a Flynth office near you.
