Benefits in Kind

What is BIK?

Benefits in Kind (BIK) are non-cash benefits provided by employers to their employees and are treated as income of the employees. BIK are not convertible into money, even though they have monetary value. The phrase not convertible into money means that when the benefit is provided to the employee, that benefit cannot be sold, assigned or exchanged for cash either because of the employment contract or due to the nature of the benefit itself.

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