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Question 1 A rank and file employee received the following compensation and benefits received during 2018: Basic compensation income P540,000 13th month pay 45,000 Mid-year

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Question 1 A rank and file employee received the following compensation and benefits received during 2018: Basic compensation income P540,000 13th month pay 45,000 Mid-year bonus 22,500 Christmas gift 10,000 Uniform allowance 7,500 Actual medical allowance 15,000 Medical allowance to dependents 2,000 Rice subsidy 18,000 Monetized vacation leave for 12 days 24,000 Determine the following: 1. Taxable compensation income - 2. De minimis benefits - 3. 13th month and other benefits Response: [none] Edit

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