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, Benefit in Kind, VAT IT, VAT IT

Benefit in Kind Compliance

Supplementary Solution 

Be kind to your payroll tax declaration

What is Benefit in Kind Compliance?

The use of benefit in kind (BIK) or fringe payments to compensate employees is practiced in almost all developed economies. Reporting on your BIK is an absolute necessity for your payroll tax declaration. However, there may be separate local requirements in every country on both a reporting and document level therefore staying compliant can become difficult. If your payroll team is unfamiliar with a local country reporting rules, your business risks non-compliance and tax penalties.

Our Be Kind Solution

VAT IT offers the following assistance for BIK compliance

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Review

A review of all expense data in relation to fringe benefits.

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Analysis

Our technology runs an algorithm comparing your benefits to local legislation and deciphers BIK exposure.

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Compilation

Compiled into custom-made reports (according to what you need or what form you are using per country) ready for submission.

Book a consultation

Contact us for a free consultation around the challenges you may be facing in meeting local country payroll and tax law requirements.

, Benefit in Kind, VAT IT, VAT IT

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