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This tax-free form of employer benefit can be provided to employees. It is support provided by the employer for housing purposes and for the final repayment or repayment of housing loans, which comes with much more favorable tax conditions than those of wage benefits.
In the employee housing support program, employers may provide employees with a tax-free benefit under tax conditions much more favorable than those of wage benefits for the purchase, building, extension and modernization of housing and the final repayment and repayment of housing loans and housing loans taken out from a former employer.
The Act on Personal Income Tax provides a clear definition in this regard according to which the following provided by the employer shall qualify as exempt from tax:
The tax-free employee housing support is a favorably taxes benefit form for employees and, at the same time, an easy to regulate means for employers to ensure employee commitment.
Tax-free employee housing support can be provided for housing purposes or for the final repayment or repayment of housing loans.
The following qualify for housing purposes:
We offer the program to employers who wish to use the opportunity of providing a tax-free benefit which may improve employee satisfaction and, at the same time, are willing to precisely comply with the administrative requirements.
The table below presents the tax burden and employer cost on 100 units of net benefit in the case of the different benefit forms:
|Wage cost 2018||Fringe benefits||Certain specified benefits|
|Total employer cost|
Preliminary examination of the fulfillment of the conditions of eligibility for the benefit
Obtaining of the certificates and documents proving used according to the purposes specified by legal regulations
Before the provision of the benefit, we review the documents and declarations received from employees and examine eligibility for the tax-free support.
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