P.2023/114 Proposition 11A (As inserted by Amdt 10)
1
XVIII
Committee
Policy & Resources Committee
Proposition
Noting that there are currently exemptions and limitations for employer-provided benefits relating to motor vehicles but none relating to public transport or non-motorised vehicles, to direct that with effect from 1 January 2024, to exempt from income tax the following if provided by employers:
a. Bus passes (including when made available for the employee’s private use);
b. Bicycles (including e-bicycles, and including when made available for the employee’s private use); and
c. Mileage paid to an employee who is required to use his/her own bicycle (including e-bicycle) for business use, in line with the rates stipulated in Statement of Practice E17.