Employees receive assets given by their employers, and the assets can be converted into monetary value. These benefits are actually part of the wages in the employment contract and are subject to salaries tax. The monetary value can be obtained by selling the assets given by the employer, and this amount is the amount that is taxable. The most obvious example is that employers give employees supermarket cash coupons. The value of the cash coupons is the taxable amount.
However, if the employer grants employees the right to use certain assets, such as allowing the employee to use the employer’s car, this right of use cannot be converted into a monetary value benefit, and the amount of money cannot be determined, and such benefits will not be taxable. Another situation is that the benefits of employers to employees cannot be determined in terms of monetary value. That is, employers provide employees with loans, and employees only need to pay a lower than market interest rate. In this case, benefits are also not taxable.
The above information is for reference only. If in doubt, we welcome your tax inquiries