a) The tax treatment in relation to benefit in kind (BIK) received by an employee from his employer for exercising an employment, and b) The method of ascertaining the value of BIK in order to determine the amount

2021年4月6日 · What are the current benefit-in-kind (BIK) company car tax bands? The tables below shows future BIK tax bands (also known as company car tax) based on CO2 emissions of your vehicle. You can...

BIK Malaysia stand for Benefit in kind, is a tax benefit provided by the employer in non cash, how to calculate the value of Malaysia benefit in kind (BIK)?

Company Car Tax Benefit in Kind (BIK) Rates Table 2023 to 2028 The charge is calculated by applying an appropriate percentage figure (BIK rate) to the list price of the car. The car's zero emission miles and its CO2 emissions determine the appropriate percentage. CO 2 Emissions BIK Percentage (g/km)

2025年3月20日 · These values are outlined in the BIK Table and provide a standard approach without requiring asset lifespan calculations. For example, an employee gets a company car that originally cost RM100,000. According to LHDN’s BIK Table, the prescribed annual benefit value for a car in this price range is RM5,000.

2023年9月23日 · What is the tax treatment of Benefit in Kind (BIK)? All Benefits in Kind received by an employee are taxable. However, there will be some tax exemptions on certain types of BIK. Example of tax exemption on BIK received by employee: FULL EXEMPTION: – Dental Benefit – Child-care benefit

2024年7月19日 · There are 2 methods specified by LHDN to determine the value of BIKs: 1. The Formula Method. Under this method, each BIK provided to the employee is ascertained by using the formula below: Annual value of BIK = Cost to the employer of the asset / prescribed average lifespan of the asset.

As BIKs are not cash payments, they might not always appear on the employee’s pay slips however, the value of a BIK may need to be determined for tax purposes. The taxable value for BIKs will be based on formula or prescribed value method. There are also certain benefits are exempted from tax.

BIK Malaysia means Benefit in Kind, non cash benefits provided by the employers and treated as income of the employees, such as Motorcar, Driver, Furnishing, Entertainment, Value of Living Accommodation, ESOS & more

Want to understand the latest Benefit-in-Kind (BiK) rates, then our BIK table will give you the information you need from now until 2025.