Employee reward scheme adjudged to be unreasonable
Posted by mostafa on 6 March, 2018
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This item was filled under Tax
The general anti-abuse rule advisory panel has decided that an employer-financed retirement benefit scheme (EFRBS) was not a reasonable arrangement.
The GAAR panel considered the effect of the arrangements was, in substance, loans to the employees. It could see no reason, other than for tax purposes, for …