The Fringe Benefit Tax or FBT is a tax that is levied on the benefits that employees receive and enjoy over and above their salary or wages. Employers shower their employees with certain perks or fringes. The tax on these benefits is the fringe benefit tax. It replaces the Pay-as-you-earn (PAYE) tax that would be deducted from the employees’ salary, had they been given money to purchase these benefits.
Professional accounting services are required to calculate the fringe benefit tax properly so that no category is missed, which could be the reason for problems later on. Rayvat provides high quality accounting services to companies and employers who need to calculate the fringe benefit tax. Employers can be at ease with respect to the calculation and filing of the fringe benefits tax as the task is well handled by the Rayvat employees that are skilled, experienced and expert in their job.
Contact us for your Fringe Benefit Tax regarding needs.