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.
These regulations are included in the Code of Federal Regulations (CFR), the omnibus listing of Government regulations, as Title 48. Chapter 1 of Title 48 is commonly called the Federal Acquisition Regulation (FAR). The remaining chapters of Title 48 are supplements to the FAR for specific agencies.