Page 22 - F6 Slide - VAT Part 4 - Lecture Day 5
P. 22
Fringe Benefits
Value of supply
(other than the use of a motor vehicle)
Output tax = cash equivalent for income tax purposes x 14/114
Apportioned to the extent that it relates to the making
of taxable supplies.
Employee is recipient of the fringe benefit BUT payment of
output tax is the obligation of the employer and not the
employee.
