Cloud Payroll - BIK : How to determine the Value of BIK?: Difference between revisions
Cloud Payroll - BIK : How to determine the Value of BIK? (view source)
Revision as of 09:30, 21 July 2022
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(Created page with "'''Question :''' <br> <big>'''How to determine the Value of BIK?'''</big> <br> <u><b>Answer :</b></u> a) The Formula Method ⇒ each benefit provided to the employee is ascertained by using the formula below: 500px ⇒ the prescribed average life span of the various assets is as in Appendix 1 ⇒ the benefit can be abated if: i. Provided for less than a year, or/and ii. Shared with another employee, or/and iii. Used for pu...") |
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⇒ the prescribed average life span of the various assets is as in Appendix 1<br>
⇒ the benefit can be abated if:
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b) The Prescribed Value Method
⇒ an alternative method to determine the value of the BIK provided by the employer to the employee<br>
⇒ The schedules for the prescribed values of the benefits commonly provided to the employee are as in Appendix 2<br>
⇒ The benefit can be abated if:
i. Provided for less than a year, or/and
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