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BIK means ‘benefit in kind’ and is an optional perk businesses will dole out to employees, such as a company vehicle, health plans, or housing. Benefits received, such as these, are treated as part of your earnings and, typically, are subject to income tax. The employer informs the tax office about the value of the BIK, which means that the employee can owe tax on its assumed cash value. BIKs increases your total compensation, but they also change the amount of taxes you owe.

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