Question
For the Taxable Year 2021 Donald a resident Filipino who is working as a customer service representative, had the following data related to his earnings
For the Taxable Year 2021 Donald a resident Filipino who is working as a customer service representative, had the following data related to his earnings and expenses for the year:
Compensation Income 380, 000.00
SSS, PHIC, and HDMF Contributions 19, 000.00
Productivity Bonus 27, 000.00
Premiums on Health Insurance 4, 000.00
Personal, family, and living expenses 200, 000.00
13th Month Pay 31, 700
How much is the taxable income of Donald subject to income tax for the year 2021?
Step by Step Solution
3.40 Rating (147 Votes )
There are 3 Steps involved in it
Step: 1
In the Philippinesfor tax year 2021to calculate Donalds taxable inco...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
