P3.

1
Subject to Subject to
Amount FBT basic tax Exempt
1. Officer’s. expense account P120,000 120,000
not Subject to liquidation
2. Officer’s expense 80,000 P80,000
account Subject to
liquidation
3. Personal expenses of the 50,000 50,000
Company officers, paid for
or Reimbursed by the
company- Employer
4. Annual uniform 6,000 5,000
allowances Granted to an
executive
5. Housing benefits of officials 360,000 360,000
of The Philippine Army
6. Housing benefits of officials 250,000 250,000
of A domestic corporation
7. Housing unit furnished to 45,000 45,000
an employee, where said
unit was situated inside or
adjacent to the premises of
the business
8. Monetized unused vacation 15,000 15,000
Leave credits not exceeding
10 Days.
9. Household personnel 60,000 60,000
benefit By an officer of a
domestic Corporation.
10. Annual medical cash 1,500 1,500
allowance to dependents

P3.2
a. Yes
b. GUMV = P325,000/65%
= P500,000
c. No, its included in the Final tax
d. FBT = P500,000 x 35%
= P175,000
e. It shall be remitted not later than the last day of the month
f. No, it’s subject to tax
P3.3
Basic compensation income P900,000
P3,000 monthly transportation allowance 36,000
De Minimis Benefits Other Benefits
13th month pay 75,000
Productivity incentives pay 10,000
Christmas bonus (25,000 – 5,000) 5,000 20,000
Uniform allowance (16,000 – 6,000) 6,000 10,000
Actual medical allowance 10,000
Rice subsidy (36,000-(12 x 2,000)) 24,000 12,000
Total 117,000
Excess (90,000) 27,000
Taxable net income P963,000

P3.4
Basic compensation income P900,000
P3,000 monthly transportation allowance 36,000
De Minimis Benefits Other Benefits
13th month pay 75,000
Productivity incentives pay 20,000
Christmas bonus (25,000 – 5,000 DMB) 5,000 20,000
Uniform allowance (16,000 – 6,000 DMB) 6,000 10,000
Actual medical allowance 10,000
Rice subsidy [36,000-(12 x 2,000 DMB)] 24,000 12,000
Total 137,000
Excess -90,000 47,000
Taxable net income P983,000

P3.5
Basic compensation income P540,000
De Minimis Benefits Other Benefits
13th month pay 45,000
Mid-year bonus 22,500
Christmas gift (10,000-5,000) 5,000 5,000
Uniform allowance (7,500-6,000) 6,000 1,500
Actual medical allowance (15,000-10,000) 10,000 5,000
Medical allowance to dependents 2,000
Rice subsidy 18,000
Monetized vacation leave (24,000-(2,000x10)) 20,000 4,000
Total 83,000
Excess (90,000)
Taxable net income P540,000