A Non-Cash Benefit For Your Employees
Benefit in kind (‘BIK’) is any non-cash benefit that you provide for your employees. Usually, the value of the benefit-in-kind is the cost to the employer of providing the benefit less any contribution by the employee. If your employees earn over a specific threshold, a tax must be paid.
- Expense Types – Different requirements for each expense type in each country.
- Visibility – Difficult to determine which BIK should be taxed.
- Compliance – Is the company compliant in relation to BIK?
- Obligations – 5th of every month.
Taxback International BIK Process
Automatic Data Capture
Analyse Data for BIK Transactions
Provide BIK Report
What Taxback International can do for you?
- Pulls required data from your financial systems.
- Examines pulled data for transactions subject to BIK.
- Our BIK auditors analyse transactions and issue you with a compliant BIK report in advance of the monthly reporting deadline.
“Taxback International’s extensive knowledge of each region’s tax requirements is so beneficial to the success of our events. The team take us through every step of registration needs, accommodates our special requirements, and also offers the best customer service along the way”