VeriFone Systems is a provider of electronic card payment terminals, peripherals, network products, and software. In its 2013 annual report, the company reported current and long-term deferred tax assets totaling about $513 million. The company also reported valuation allowances totaling about $418 million. What would motivate VeriFone to have a valuation allowance almost equal to its deferred tax assets?

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.