Commentary

4.2 Employer provided cars

Singapore
Singapore | Commentary

4.2 Employer provided cars

Singapore | Commentary

4.2     Employer provided cars

If the employer is the first owner of the car, then the car is 'new'. The benefit in kind of an employer provided new car is:

3/7 × [(car acquisition cost - PARF rebate)/10 + actual running and maintenance costs incurred by the employer]

PARF is Preferential Additional Registration Fee rebate which is granted when the car is de-registered at the age of above nine but not exceeding ten years. Further information of the PARF can be found at the government agency: OneMotoring.

The fraction 3/7 is intended to represent the use of car outside office

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