C-D. Use the following information for the next two questions: Mr A, employed in the private sector, received the following benefits during the year: Rice subsidy of one 50 kg sack of rice per month worth P2,500 Uniform and clothing allowance, P8,000 for the year Medical benefits for hospitalization during the year, P38,000 Laundry allowance, PI,000 per month Omega wristwatch worth P230,000 received as a loyalty award for having worked for the company in the last 25 years. 13 month pay, P40,000 Christmas bonus, P6,000 Question: C. How much is Mr. X's taxable "13" month pay and Other Benefits? Answer: Question: D. If Mr X's total "take-home pay (excluding the benefits above) for the year was 480,000, how much is Mr X's tax due for the year? Answer:
C-D. Use the following information for the next two questions:
Mr A, employed in the private sector, received the following
benefits during the year:
Rice subsidy of one 50 kg sack of rice per month worth P2,500
Uniform and clothing allowance, P8,000 for the year
Medical benefits for hospitalization during the year, P38,000
Laundry allowance, PI,000 per month
Omega wristwatch worth P230,000 received as a loyalty award for
having worked for the company in the last 25 years.
13 month pay, P40,000
Christmas bonus, P6,000
Question: C. How much is Mr. X's taxable "13" month pay and Other
Benefits?
Answer:
Question: D. If Mr X's total "take-home pay (excluding the benefits
above) for the year was 480,000, how much is Mr X's tax due for the
year?
Answer:
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