309.This section excepts a cash voucher from the application of this Chapter where an employee receives the voucher under an Inland Revenue approved scheme. Such an approved scheme provides for deduction of income tax under PAYE. The practical effect of approval of a scheme is that tax is deducted when the voucher is exchanged instead of when it is received. This section derives from section 143(5) of ICTA.
310.The section reflects existing administrative practice when it refers to approval by the “Inland Revenue” rather than “the Board”. This is a minor change in the law. See Change 158 in Annex 1.