FINAL TAX

IMPOSED UPON M/S EMPLOYEE

PAID BY EMPLOYERS
NATURE
GROSSED-UP TAX
QUARTERLY TAX
MANDATORY FRINGE BENEFITS
DE MINIMIS BENEFITS
MEALS FURNISHED OR SUBSIDIZED BY EMPLOYER
FRINGE BENEFITS OF R/F EMPLOYEES
EXEMPT RENTAL VALUE OF QUATERS FURNISHED AN EMPLOYEE
CONVENIENCE EMPLOYER RULE
PREMIUM ON LIFE INSURANCE OF AN EMPLOYEE
NECESSARY EMPLOYER RULE
FIXED OR VARIABLE TRANSPORTATION, REPRESENTATION
PERFORMANCE BONUS, RELAY STATION AND DANGER EXPOSURE ALLOWANCE
PERSONNEL ECONOMIC RELIEF ALLOWANCE
TAXABLE
SALARIES AND ALLOWANCES DURING VACATION AND SICK LEAVE
FEES RECEVIED BY AN EMPLOYEE INCLUDING DIRECTOR'S FEE
DISMISSAL PAYMENTS

MEALS, LIVING QUARTERS, DE MINIMIS ENTERTAINMENT, MEDICAL SERVICES,

RANK AND FILE COURTESY DISCOUNTS ON PURHCASES, SACK OR RICE ETC. GIVEN FOR THE
CONVENIENCE
EXEMPT
REIMBURSEMENT-TYPE TRAVELING, REPRESENTATION AND OTHER ALLOOWANCE

RETIREMENT AND SEPARATION BENEFITS EXEMPT UNDER THE LAW

FRINGE
BENEFIT TAX

EXCEPTION: MILITARY HOUSING, 50 METERS AWAY FROM BUSINESS

CLASSIFICATION HOUSING BENEFITS PREMISES, TEMPORAY HOUSING FOR EMPLOYEE (3MOS OR LESS)

INTEREST ON LOANS @ LESS THAN MARKET RATE OR @ DEIFFERENTIAL INTEREST OF 12% IS TAXABLE FRINGE BENEFIT
0% RATE
MEMBERSHIP FEES, DUES AND OTHER EXPENSES BORNE TAXABLE EMPLOYEE BENEFITS IN FULL
BY THE EMPLOYER
FIRST CLASS - 30% OF TICKET COST; LODGING COST IN EXCESS OF $300/DAY;
EXPENSE FOR FOREIGN BUSINESS TRAVEL TRAVELING EXPENSE PAID BY EMPLOYER FOR THE TRAVEL OF FAMILY
MEMBERS OF EMPLOYEE
MANAGERIAL OR HOUSEHOLD PERSONNEL
SALARIES OF HELPERS; PERSONAL DRIVER OF EMPLOYEE; ASSOC DUES,
GARBAGE DUES, ETC.
SUPERVISORY
GR: FBT; REIMBURSEMENT TYPE; PERSONAL EXPENSE; EXCEPTION: REGULAR
EMPLOYEES EXPENSE ACCOUNT FIXED ENTERNATINMENT AND REPRESENTATION ALLOWANCE; CONNECTED
WITH TRADE OF EMPLOYER & RECEIPTED IN NAME OF EMPLOYER
HOLIDAY AND VACATION EXPENSE
INCURRED BY EMPLOYEE, SHOULDERED BY EMPLOYER
LIFE AND HEALTH INSURANCE AND OTHER NON-LIFE
INSURANCE IN EXCESS OF WHAT LAW ALLOWS EXCEPTION: SSS, PHILHEALTH, GSIS, ETC.; COST OF PREMIUM FOR GROUP
INSURANCE
VEHICLE OF ANY KIND
EXCEPTION: AIRCFRAT OR HELICOPTER OWNED AND MAINTAINED BY
EMPLOYER; YATCH
CASH PAID EXCEPT
RESIDENTIAL RENTAL X EDUCATIONAL ASSISTANCE GRANTED BY EMPLOYER TO
CASH
50%
DETERMINE THE
MONETARY KIND FV OR BV WHICHEVER IS HIGHER EMPLOYEE (EXCEPT IF DIDRECTLY CONNECTED TO BUSINESS AND UNDER
CONTRACT) & DEPENDENTS OF EMPLOYEE (EXCEPT IF UNDER COMPETITIVE
PROCEDURES VALUE RENTAL VALUE X 50% SCHOLARSHIP)
GROSS UP FURNISHED DEPRECIABLE VALUE MOVABLE 5YRS OR VALUE X 20%
COMPUTE THE FBT
IMMOVABLE 20YRS OR VALUE X 5%