Gross Salary 360,000.

00
Rice subsidy 60,000.00
Commission income 28,000.00
Overtime pay 5,000.00
Vacation expense paid by the employer 15,000.00
Monetized vacation leave 20,000.00
Monetized sick leave 10,000.00
Overtime pay 35,000.00
13th and 14th month pay 60,000.00
Pre-computed daily transportation allowance 20,000.00
Laundry allowance 6,000.00
Gross Compensation Income 619,000.00

Gross compensation income 619,000.00

Less: Non-taxable compensation income
Mandatory deductions 54,150.00
Exempt benefits 162,600.00 216,750.00
Taxable Compensation Income 402,250.00

Income tax due

Taxable income 402,250.00

Less: lower limit of applicable bracket 400,000.00 30,000.00
excess 2,250.00
Multipy by: Incremental tax rate 25% 563.00
Income Tax Due 30,563.00

Income tax due 30,563.00

Withholding tax on compensation - 22,000.00
Total Income Tax Payable 8,563.00