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.
Purchases made by the Federal Government must comply with Federal Acquisition Regulations (FAR) , which governs all Federal acquisitions. There are a variety of different ways that agencies can comply with these regulations and a variety of contract types to match.