Cloud Payroll - BIK : What is Benefit in Kind (BIK)?

Question :
What is Benefit in Kind (BIK)?

Answer :

⇒ benefits not convertible into money, which means it cannot be sold, assigned, or exchanged for cash

⇒ benefits received by an employee

⇒ benefits are taxable, but there are certain benefits-in-kind which are either exempted from tax or are regarded as not taxable

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