MEF Information Notes: Exempt Income (Emoluments) and Fringe Benefits

We are pleased to inform our members that the revised versions of our information notes on Exempt Income (Emoluments) and Fringe Benefits following amendments brought to the Income Tax Act is now available.

The  Information Notes ECO.IFN.02 and ECO.IFN.03 replace the previous issues dated April 2011 and January 2010 respectively.

The amendments concern:

• ·         Inclusion of car allowance payable in lieu of duty exemption on a car, to a public officer, an officer of a local authority, or officer of a statutory body as exempt income.
• ·         Review of taxable values of car benefits, housing benefits and accommodation benefits provided by hotels.

We remain at your disposal for any further information you may require.