1. Pepe is a Manager working at Ayala Malls Legazpi for Taxable year 2020. He had the following data:• Basic Pay-259,000.0050,000.00Holiday & OT-Incentives -50,000.00TOTAL 359,000.00Travel Allowance (to be liquidated)100,000.00MANDATORY BENEFITS:. SSS10,000.00• PHIC1,200.00• HDMI1,000.00Total12,200.00• COMPUTE THE GROSS COMPENSATION2. Aside from being a manager Pepe also deposited in a Bank to earn an extra income through passiveincome. He deposited 4,000,000 in a 180-day time deposit. The deposit pays 5% interest. Compute thefinal tax on the maturity of the deposit.3. Supposed that Pepe's investment is a Six year time deposit dated January 26, 2020. Assuming Pepeterminated the deposit today, how much is the final tax to be withheld by the Bank upon termination?4. Explain who will pat the final tax and ow?5. Explain the different between Income Tax and final tax.

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1. Pepe is a Manager working at Ayala Malls Legazpi for Taxable year 2020. He had the following data: . Basic Pay- 259,000.00 Holiday & OT- 50,000.00 • Incentives - 50,000.00 TOTAL 359,000.00 Travel Allowance (to be liquidated) 100,000.00 MANDATORY BENEFITS: • SSS 10,000.00 • PHIC 1,200.00 • HDMI 1,000.00 Total 12,200.00 • COMPUTE THE GROSS COMPENSATION

1. Pepe is a Manager working at Ayala Malls Legazpi for Taxable year 2020. He had the following data: . Basic Pay- 259,000.00 Holiday & OT- 50,000.00 • Incentives - 50,000.00 TOTAL 359,000.00 Travel Allowance (to be liquidated) 100,000.00 MANDATORY BENEFITS: • SSS 10,000.00 • PHIC 1,200.00 • HDMI 1,000.00 Total 12,200.00 • COMPUTE THE GROSS COMPENSATION

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter5: Corporations: Earnings & Profits And Dividend Distributions

Section: Chapter Questions

Problem 29P

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