Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Issue concerns tax treatment of employer payments to an insurer for a future annuity structured for the employee. The article applies the principle that perquisite taxation requires the employee to have a vested, due or enforceable right; contingent or non vested future entitlements are not taxable in the year of employer contribution. It reasons that taxing the employer's payment when the employee has no enforceable right would duplicate taxation because annuity instalments are later taxed on receipt or accrual. Outcome: employer contribution should not be taxed in the contribution year to avoid impermissible double taxation.
Issue concerns tax treatment of employer payments to an insurer for a future annuity structured for the employee. The article applies the principle that perquisite taxation requires the employee to have a vested, due or enforceable right; contingent or non vested future entitlements are not taxable in the year of employer contribution. It reasons that taxing the employer's payment when the employee has no enforceable right would duplicate taxation because annuity instalments are later taxed on receipt or accrual. Outcome: employer contribution should not be taxed in the contribution year to avoid impermissible double taxation.
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