Question 1.

daily a single resident citizen in Philippine had the following information

Gross compensation income 750,000

Deduction from compensation income

1. SSS contributions 1,250 per month
2. PhilHealth Contributions 500 per month
3. Pag ibig contribution 250 per month
4. Premium payment on health insurance 100 per month

Other income

1. 13^th month pay 50, 000
2. Major Anniversary cash gift 10, 000
3. Midyear Bonus 60,000
4. Interest from peso bank deposit BDO manila 16,000

Please compute the benefits in excess of the ceiling

Please compute the total taxable income

Please compute the income tax

Question 2

Kaycee, a self employed resident citizen, provided the following data from her sale of goods during year 2022

Sale P 2,500,000

Cost of Sale P 1,300,000

Operating expenses, excluding representation and entertainment expense P 400,000

Additional information

The actuals entertainment, amusement and recreation expense for the taxable year totaled P 17,000

Compute the allowed representation expense

Compute the total taxable net income

Compute the income tax due