TRUE OR FALSE

1. If the managerial or supervisory employee is a non-resident alien not engaged in trade or business, the fringe benefit tax rate is 35%.

2. De minimis benefits received by managerial, supervisory and rank-and-file employees are exempted from fringe benefit tax and ordinary income tax.

3. In fringe benefit tax, it is the responsibility of the employee to withhold the tax from the earned fringe benefit and to remit the same to the BIR.

4. The 8% income tax is in lieu of the income tax using graduated rates and the 12% VAT.

5. Dividends received by a resident alien from a foreign corporation are subject to 10% final tax.