The Circular SEC 2022/E/05 (Rev) issued by the Inland Revenue Department (IRD) of Sri Lanka provides guidance on the quantification of values for non-cash benefits in calculating employment income for tax purposes.
The circular defines non-cash benefits as any benefit provided by an employer to an employee, other than cash, that has a monetary value. Examples of non-cash benefits include accommodation, vehicles, loans, stock options, and other fringe benefits.