Perquisite valuation rules revised: employer records and certification can exclude motor-car and card expenses where used for official duties. The amendment revises Rule 3 to allow perquisite valuation of employer-provided motor cars and employer-paid credit card expenses to be based on actual amounts charged, met or reimbursed reduced by amounts attributable to official use, provided the employer maintains detailed records (journey or expenditure details and business expediency) and issues a certificate that the expenditure was wholly and exclusively for official duties; a business-purpose exception similarly applies where these conditions are satisfied.
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Perquisite valuation rules revised: employer records and certification can exclude motor-car and card expenses where used for official duties.
The amendment revises Rule 3 to allow perquisite valuation of employer-provided motor cars and employer-paid credit card expenses to be based on actual amounts charged, met or reimbursed reduced by amounts attributable to official use, provided the employer maintains detailed records (journey or expenditure details and business expediency) and issues a certificate that the expenditure was wholly and exclusively for official duties; a business-purpose exception similarly applies where these conditions are satisfied.
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