In case additional income tax on fringe benefits (FBT) is considered proper and valid then simple way is to tax employers @ 5- 7% of total employees cost and exempt all employees from paying tax on salary and perquisites to achieve simplification and result orientation.

In case additional income tax on fringe benefits (FBT) is considered proper and valid then simple way is to tax employers @ 5- 7% of total employees cost and exempt all employees from paying tax on salary and perquisites to achieve simplification and result orientation. https://www.taxtmi.com/article/detailed?id=405 Fringe Benefit Tax imposes an additional income tax on employers for benefits provided or deemed provided to employees, treating business welfare and perquisite expenditures as taxable in the hands of the employer and creating administrative burdens and absence of a basic exemption. The author argues such expenditures should be taxed in the hands of employees under salaries, and proposes a simplified alternative: replace FBT with a modest employer-based levy on total employee cost and exempt employees from income tax on salary and perquisites to streamline collection and compliance. en-us Tue, 30 Jun 2009 00:00:00 +0530 Tue, 30 Jun 2009 21:12:28 +0530 TaxTMI RSS Generator In case additional income tax on fringe benefits (FBT) is considered proper and valid then simple way is to tax employers @ 5- 7% of total employees cost and exempt all employees from paying tax on salary and perquisites to achieve simplification and result orientation. https://www.taxtmi.com/article/detailed?id=405 Fringe Benefit Tax imposes an additional income tax on employers for benefits provided or deemed provided to employees, treating business welfare and perquisite expenditures as taxable in the hands of the employer and creating administrative burdens and absence of a basic exemption. The author argues such expenditures should be taxed in the hands of employees under salaries, and proposes a simplified alternative: replace FBT with a modest employer-based levy on total employee cost and exempt employees from income tax on salary and perquisites to streamline collection and compliance. Articles Income Tax Tue, 30 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=405