A powder coating composition for the production of non-yellowing, flexible coatings which contains a mixture of a polyisocyanate component which contains one or more lacquer polyisocyanates having free (unblocked) isocyanate groups bound to primary and/or secondary carbon atoms and a polyol component containing one or more polyhydroxyl compounds selected from polyhydroxy polyurethanes, polyhydroxy polyacrylates and polyhydroxy polyesters, wherein at least 50% of the hydroxyl groups are bound to secondary or tertiary carbon atoms; and its use for coating heat-resistant substrates, in particular as clear coating compositions for automobiles.