It is important for the employers to gain awareness about some basic facts with respect to offering such benefits to their employees. These facts can help the employers in ensuring that the rewards being provided by them ensure the happiness of their employees rather than the taxation office. The most important of these facts are discussed in brief as follows.
• Exemption Threshold Of Rewards And Benefits Offered in Kind
• Maintain The Monthly Exemption Threshold
• Keep A Record Of Everything
• Keep The Needs And Expectations Of Employees In Mind
The employers should make themselves aware of the maximum exemption limit on any benefits offered in kind. Lack of this knowledge might make them responsible for putting an additional taxation burden on their employees, which they would definitely not approve of. The employers should be sure to consult with their payroll service provider in Germany before deciding about any benefits and rewards they intend to present to their employees.
