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.
The provisions of the Competition in Contracting Act of 1984 (P.L. 98-369) as implemented in the Federal Acquisition Regulation (FAR 35.016) provide for the issuance of a Broad Agency Announcement (BAA) as a means of soliciting proposals for basic and applied research and that part of development not related to the development of a specific system or hardware procurement.