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Problem 3: In 208, Nelia Gomez, an MWE, received from her employer an annual minimum wage salary of P99,702. Aside from this, she also received P8,000 for holiday pay, overtime pay, and night shift differential pay. Furthermore, she received P8,303 as her 13th month pay. What amounts shall she be taxable on? * P8,000 P107,702 P8,303 None

Problem 3: In 208, Nelia Gomez, an MWE, received from her employer an annual minimum wage salary of P99,702. Aside from this, she also received P8,000 for holiday pay, overtime pay, and night shift differential pay. Furthermore, she received P8,303 as her 13th month pay. What amounts shall she be taxable on? * P8,000 P107,702 P8,303 None

Individual Income Taxes
Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter13: Tax Credits And Payment Procedures
Section: Chapter Questions
Problem 38P
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Problem 3: In 208, Nelia Gomez, an MWE, received from her employer an annual minimum wage salary of P99,702. Aside from this, she also received P8,000 for holiday pay, overtime pay, and night shift differential pay. Furthermore, she received P8,303 as her 13th month pay. What amounts shall she be taxable on? * P8,000 P107,702 P8,303 None Based on Problem 3, assuming Nelia was promoted on June 2018, and starting the same month was given a raise in salary which was more that the statutory minimum wage. Will she be liable to pay income tax and be subjected to withholding tax from his compensation during 2018? * Yes, her entire earnings shall be the basis of the income tax computation No, her entire earnings shall not be taxable Only her earnings from June 2018 to December 2018 shall be the basis of tax and be subjected to withholding tax O None of the choices
Transcribed Image Text:Problem 3: In 208, Nelia Gomez, an MWE, received from her employer an annual minimum wage salary of P99,702. Aside from this, she also received P8,000 for holiday pay, overtime pay, and night shift differential pay. Furthermore, she received P8,303 as her 13th month pay. What amounts shall she be taxable on? * P8,000 P107,702 P8,303 None Based on Problem 3, assuming Nelia was promoted on June 2018, and starting the same month was given a raise in salary which was more that the statutory minimum wage. Will she be liable to pay income tax and be subjected to withholding tax from his compensation during 2018? * Yes, her entire earnings shall be the basis of the income tax computation No, her entire earnings shall not be taxable Only her earnings from June 2018 to December 2018 shall be the basis of tax and be subjected to withholding tax O None of the choices
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