Write brief notes on Fringe benefit tax

      

Write brief notes on Fringe benefit tax

  

Answers


Wilfred
- Fringe Benefit Tax
This is tax that was introduced on soft loans advanced to employees, their relatives and directors
with effect from 12th June 1998. Employers are required to pay Fringe Benefit tax on such loans at
the resident corporate tax rate, on the difference between market interest rate (average 91 –day TB
for previous quarter) and the rate paid by employees. This tax is payable by the 9th of the
subsequent month after the payroll month.
Wilfykil answered the question on February 26, 2019 at 05:48


Next: Kikwetu Enterprises is a firm operating in the textile industry. The budgeted sales for the fabric “S” for the month of August 2006 are 20,000 units...
Previous: Write brief notes on Exempt interest income

View More CPA Advanced Taxation Questions and Answers | Return to Questions Index


Exams With Marking Schemes

Related Questions