Question
Philippine Taxation 2020 (Train Law) The following data is related to the compensation income of a private rank and file employee of SAMSAN TECH CORP
Philippine Taxation 2020 (Train Law)
The following data is related to the compensation income of a private rank and file employee of SAMSAN TECH CORP during 2019:
Annual compensation income 540,000
13th month pay 45,000
14th month pay 45,000
total monthly rice allowance during the year 26,000
commission from employer 12,000
Christmas gift 8,000
SSS, PHIC and HDMF contribution P21,000
DETERMINE THE FOLLOWING:
- The exempt de minimis benefit
- The total non-taxable compensation
- The income tax due.
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
