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Benefit in KInd

hr
Member
Tue, 20 Nov 2018 10:02:43 PM  (Last updated: Sun, 25 Nov 2018 05:45:10 PM)

Hi,

My company has this benefit in kind where certain employee received benefits such as company car and was ask to include into the employee gross salary.

There's 2 method of calculation for the BIK. One is based on the formula method and second is based on the prescibed value method.

My question is what is the difference using formula and value method?

KL Siew
Administrator
Wed, 21 Nov 2018 12:04:57 PM

Why not consult the Income Tax Department? They may be able to give some guidance on that type of benefit.

hr
Member
Sun, 25 Nov 2018 05:45:10 PM

ok thanks..