Whatever the outcome of these legal battles, there is little doubt the FBT is a hugely unpopular move by the government. To recap some of the details: medical expense reimbursements enjoyed by employees will be taxable; Leave Travel Allowances will be taxable; telephone calls made from an employee’s residence will be taxable; education allowances for children will be taxable and entertainment expenses borne by companies and individuals for promoting business will be taxable.
For complete IIPM article click here
Source- IIPM Editorial, 2006
For complete IIPM article click here
Source- IIPM Editorial, 2006
