Advanced Learning Institute, an educational institution, provided the following data for the current taxable year: Income from tuition fees P 3,500,000 School Miscellaneous Fees 1,500,000 Dividend Income:   Domestic Corporation 2,000,000 Foreign Corporation 2,000,000 Rent Income (Net of 5% withholding tax) 1,900,000 Operating Expenses 4,000,000   Compute the tax payable of the school

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.