During the Covid period, ABC Corporation gave Manager A, resident of the Philippines, grocery allowance worth P 39,000.

Questions:

1. How much is the monetary value of the fringe benefit?

2. How much is the Gross-up monetary value?

3. How much is the Fringe benefit tax?

4. Assume the same facts except that Manager A is a Non-resident alien not engaged in trade or business. How much is the monetary value of the fringe benefit?

5. Assume the same facts except that Manager A is a Non-resident alien not engaged in trade or business. How much is the Gross-up monetary value of the fringe benefit?

6. Assume the same facts except that Manager A is Non-resident alien not engaged in trade or business. How much is the fringe benefit tax?

7. In 2020, JKL Corporation provided a 3-day vacation in Bacolod to all of its employees of which 80% are rank and file. Total expenses incurred by the company for the said vacation amounted to P 1,200,000.

The fringe benefit tax expense is