Z Corporation paid P 136, 000 cash fringe benefit for the year 2019 representing 80 % of the car incentive for its area manager. Z remitted the related final tax of the said cash fringe benefit. The amount to be claimed as business deduction form business income is: * a. P 170, 000 b. P 200, 000 c. P 136, 000 d. P 108, 800 e. Answer not given

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 23P
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Z Corporation paid P 136, 000 cash fringe benefit for the year 2019 representing 80 % of the car incentive for its area manager. Z remitted the related final tax of the said cash fringe benefit. The amount to be claimed as business deduction form business income is: *

a. P 170, 000

b. P 200, 000

c. P 136, 000

d. P 108, 800

e. Answer not given

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