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2016APPENDIX 8AValue of BenefitsinKind for the Year Ended 31 Dec 2015 (Fill in this form if applicable and give it to your employee by 1 Mar 2016 for his submission together with his Income Tax Return)Full
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Value of benefits-in-kind is reported to account for the non-cash benefits an employee receives from their employer.
Employers are required to file value of benefits-in-kind for their employees.
Value of benefits-in-kind can be filled out by providing information on the non-cash benefits provided to employees.
The purpose of value of benefits-in-kind is to ensure that employees are properly taxed on the non-cash benefits they receive.
Information such as the type of non-cash benefits provided and their cash equivalent value must be reported on value of benefits-in-kind.
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