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FM may examine tax on sales promotionnews |
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| 02 March 2005 |
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New Delhi: Finance minister, P Chidambaram said yesterday he would review whether employers would have to pay tax on sales promotion and publicity under the 'fringe benefit' tax.
"We will take a look at it and see why the draftsmen put it there," Chidambaram said in an interview to CNBC's Raghav Behl.
He added the expenditure incurred by companies on their employees' travel and lodging while on official work would be a "business expense", which would not come under the ambit of the fringe benefit tax.
He pointed out the government had, in fact, a few years ago introduced a perquisites tax, which was accepted by the industry. Employees have to bear this tax.
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