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This guide will assisting you in further understanding what is BIK

BIK – Commonly known as Benefit in Kind, is basically a kind of benefit that is provided by the employer to the employee. The benefits received by the employee from the employer is not convertible to cash meaning it cannot be sold, assigned and / or exchange for cash. Benefits in Kind (BIK) are taxable incomes but there are certain Benefit in Kind (BIK) are tax exempted or are regarded as not taxable.