The fringe benefits taxable amount is computed according to the following formula- A/ (1-r) Where- A =
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Question:
The fringe benefits taxable amount is computed according to the following formula- A/ (1-r)
Where-
A = the total value of fringe benefits provided by the employer to the employees in the quarter; and
r = the Fringe Benefit Tax rate specified in section 5(2).
Critically examine the effect of this formula on tax liability.
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