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To be deductible from gross income, the provision of Benefit in Kind (BiK)or fringe benefits must be related to earning, collecting, and maintaining income (3M). Conversely, if these criteria are not met, the provision of BiK or fringe benefits cannot be treated as a deductible expense. Therefore, there are two types of BiK in this context: BiK that fulfills the 3M criteria and BiK that does not.
Feb 6, 2025
