Where the employee receiving such benefits is a director of the company concerned, the benefits are taxable regardless of the level of remuneration. The liability to tax also applies in respect of benefits provided by an employer for a member or members of an employee's family or household.
Federal Acquisition Regulation (FAR) Federal Acquisition Regulation (FAR) is the body of laws that govern the U.S. Federal Government's procurement process.
Glossary of Common Government Terms. Acquisition: The acquiring of supplies or services by the federal government with appropriated funds through purchase or lease. Affiliates: Business concerns, organizations, or individuals that control each other or that are controlled by a third party.