Question
In May 2020, a non-stock, non-profit university provided a 3-day vacation trip to Boracay Island to the university's Executive Vice-President. The total expenses incurred by
- In May 2020, a non-stock, non-profit university provided a 3-day vacation trip to Boracay Island to the university's Executive Vice-President. The total expenses incurred by the school was P 20,000. The FBT is?
- Mr. Chris, an accounting clerk, received the following from ABC Company for year 2020:
Compensation P 450,000
13th month pay 35,000
Clothing allowance 10,000
Medicine allowance 4,500
laundry allowance 4,000
how much is the income of Mr. Chris subject to income tax?
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Solution To determine the Fringe Benefit Tax FBT for the vacation trip provided to the Executive Vic...
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael H. Granof, Saleha B. Khumawala
6th edition
978-1-119-4958, 9781118473047, 1118155971, 1118473043, 978-1118155974
