LOG-IN FORMAT:

Good morning. Ara L. Na here and my top 3

things I remember about Compensation
Income and Fringe Benefits are: 1.
____________ 2._________ and 3.
____________. Am happy to learn Income
Taxation.
Baldo T. Baldonero, is an employee at Global IT Exponents, Inc. as
a Web Developer with a gross monthly salary of Php30,000 per
month. In 2021, his SSS, Philhealth and Pag-ibig contributions
amounted to Php16,200 (SSS contributions-Php9,600; Philhealth-
Php5,400; Pag-ibig -Php1,200). Aside from 13th month pay and
14th month pay, Baldo T. Baldonero received Php60,000 as
incentive bonus for 2021. Aside from this, Mr. Baldonero had
accumulated 20 days of Vacation Leave that had been monetized
in March 2021. Mr. Baldonero has no business and other income
for 2021. Compute for the Income tax of Baldo T. Baldonero in
2021.
In 2018, ABC Corporation gave the following fringe benefits to its
employees:
To managerial employees Php1,300,000
To rank and file employees 5,000,000
How much is the allowable deduction from the gross income of
the corporation for the fringe benefits given to employees?
In 2018, ABC Corporation provided a 3-day vacation in Tagaytay to
all of its employees of which 80% are rank and file. Total
expenses incurred by the company for the said vacation
amounted to Php1,200,000. How much is the fringe benefit tax
expense for this benefit?
Log-out format:

Ara L. Na here and my top 3 takeouts from

our learning team meet are: 1. _________
2. _______________ 3. ____________.
Good day everyone.