Catherine is employed in ABC Corporation. She received the basic wage for 2015 in the total amount of ₱234,000, inclusive of the 13th month pay. In the same year, she also received overtime pay of ₱40,000 and night-shift differential of ₱25,000. The monthly nontaxable deductions would be SSS (₱ 720.00), Philhealth (₱ 247.50), and HDMF (₱ 100.00).1. Compute for the withholding tax due. TAX TABLEIf taxable income is:ТаxDueis:OverBut Not OverIncome Tax R ateP250,000P400,000P800,000Р2,000,000P8,000,0000%20% of exces over P250,000P250,000P400,000P800,000P2,000,000P8,000,000P30,000 + 25% of excess over P400,000P130,000 + 30% of excess over P800,000P490,000 + 32% of excess over P2,000,000P2,410,000 + 35% of excess over P8,000,000

Tax refers to the amount charged by the government from the individual or companies on the income…

Catherine is employed in ABC Corporation. She received the basic wage for 2015 in the total amount of ₱234,000, inclusive of the 13th month pay. In the same year, she also received overtime pay of ₱40,000 and night-shift differential of ₱25,000. The monthly nontaxable deductions would be SSS (₱ 720.00), Philhealth (₱ 247.50), and HDMF (₱ 100.00). 1. Compute for the withholding tax due.

Catherine is employed in ABC Corporation. She received the basic wage for 2015 in the total amount of ₱234,000, inclusive of the 13th month pay. In the same year, she also received overtime pay of ₱40,000 and night-shift differential of ₱25,000. The monthly nontaxable deductions would be SSS (₱ 720.00), Philhealth (₱ 247.50), and HDMF (₱ 100.00). 1. Compute for the withholding tax due.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter24: Multistate Corporate Taxation

Section: Chapter Questions

Problem 1BCRQ

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