Fringe benefits are goods and services that are given to employees for free by employers. They are non-wage benefits and are part of the employees’ overall remuneration package.
Fringe benefits are taxed in the hands of the employees. In Singapore, many benefits are taxed on a concessionary basis, so an individual’s tax liability can be reduced by strategically structured his/her remuneration package.
Typical fringe benefits include, housing arrangement, car, travel allowance, school fees for the kids in international schools, club memberships etc.
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