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- The amount of sale to qualified PWDs INCLUSIVE of VAT is P1,120,000. Under the law, senior citizens and PWDs enjoy exemption from VAT and also a 20% on their purchase of certain goods or services. How much is the amount of discount granted to the PWDs? a. 275,000 b. 250,000 c. 224,000 d. 200,000What is the vat payable? P43,830 P44,280 P46,680 P59,248The amount of sale to qualified PWDS INCLUSIVE of VAT is P1,120,000. Under the law, senior citizens and PWDS enjoy exemption from VAT and also a 20% on their purchase of certain goods or services. How much should the business report as "Sales" to be able to avail of the special deduction from its gross income? * a. 1,120,000 b. 1,000,000 c. 896,000 d. 800,000
- Mary Elizabeth has Medicare Part B. Medicare requires a yearly deductible of$110.00. After the deductible has been met, Medicare's coinsurance is80/20. Mary Elizabeth has paid only$72.50toward her deductible. Today's bill is$115.00. How much will Mary Elizabeth be responsible for?If an employee X has CNA =₱18,291.09, 13th month pay = ₱27,891.00, other benefits = ₱10,000, and ₱3,000 of the other benefits is the clothing allowance. How much of his benefits is taxable? How much is Non- Taxable?Answer number 8-10 only with explanation.
- Complete the table below. Round off your answer to the nearest centavo. Note: (SSS= Social Security System)Identify if the statement is True or False 1. All allowances are non-taxable 2. If the monthly clothing allowances are P400.00, then the taxable amount for clothing allowance is P1,200. 3. Allowances are considered part of earnings. 4. Non-taxable benefits include all monetized leave credits 5. Some bonuses or allowances are non- taxable 6. All benefits of government officials and employees are non- taxable 7. Taxes are added in the deduction 8. Thirteenth month pay may or may not be taxed 9. If the total deduction is 0, then it follows the gross earnings is non- taxable. 10. There is possibility that a certain employee will be exempted from tax even if he/ she receive some benefits.1. Pepe is a Manager working at Ayala Malls Legazpi for Taxable year 2020. He had the following data: • Basic Pay- 259,000.00 50,000.00 Holiday & OT- Incentives - 50,000.00 TOTAL 359,000.00 Travel Allowance (to be liquidated) 100,000.00 MANDATORY BENEFITS: . SSS 10,000.00 • PHIC 1,200.00 • HDMI 1,000.00 Total 12,200.00 • COMPUTE THE GROSS COMPENSATION 2. Aside from being a manager Pepe also deposited in a Bank to earn an extra income through passive income. He deposited 4,000,000 in a 180-day time deposit. The deposit pays 5% interest. Compute the final tax on the maturity of the deposit. 3. Supposed that Pepe's investment is a Six year time deposit dated January 26, 2020. Assuming Pepe terminated the deposit today, how much is the final tax to be withheld by the Bank upon termination? 4. Explain who will pat the final tax and ow? 5. Explain the different between Income Tax and final tax.
- Charmaine purchases goods to the value of R503,48 from a supermarket .The VAT-exclusive items are valued at R287,47 1.What is the value of the taxable items?A customer purchases $28.14 in products only $12.83 is taxable. How much sales tax is owed if the tax rate is 10%.a. How much is Cooper's total deduction on his Schedule C for special clothing and uniforms? %$4 b. How much is Brandy's total deduction on her Schedule C for special clothing and uniforms? %$4 %24 %24