A3.51 : BIK : What is Benefit in Kind (BIK)?

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• A3.52 : BIK : How to determine the Value of BIK?

  Question : How to determine the Value of BIK? Answer : a) The Formula Method ⇒ each benefit provided to the employee is ascertained by using the formula below: ⇒ the prescribed average life span of the various assets is as in Appendix 1 ⇒ the benefit ...

• A3.53 : BIK : Example provided – for Motorcar

  Question : Example provided – for Motorcar Answer : Where a motorcar is provided, the benefit to be assessed is the private usage of that motorcar and the petrol provided. A motorcar which is provided to the employee is regarded to be used privately ...

• A3.55 : BIK : What is the Tax Exemption on BIK Received by an Employee?

  Question : What is the Tax Exemption on BIK Received by an Employee? Answer : ITEM BENEFIT DETAILS 1. Dental benefit Tax exempt 2. Child care benefit Childcare centres provided by employers is tax exempt 3. Food and drink provided free of charge Tax ...

• A3.59 : BIK : APPENDIX 2 - (c) Prescribed Value of Other Benefits

  Title : APPENDIX 2 - (c) Prescribed Value of Other Benefits APPENDIX 2 - (c) Prescribed Value of Other Benefits Item Type of benefit Value of Bik per year 1 Telephone (including mobile phone) i. hardware – fully exempt for one unit for each asset ...

• A3.58 : BIK : APPENDIX 2 - (b) Prescribed Value of Household Furnishing, Apparatus and Appliances

  Title : APPENDIX 2 - (b) Prescribed Value of Household Furnishing, Apparatus and Appliances APPENDIX 2 - (b) Prescribed Value of Household Furnishing, Apparatus and Appliances CATEGORY TYPE OF BENEFIT ANNUAL PRESCRIBED VALUE OF BIK PROVIDED (RM) 1 ...