In the taxable year 2020, the following data pertain to a corporate business organization: • 90,000 De minimis benefits to all employees Local traveling expenses paid by company for the travel of his supervisory employees and the members of their families A Mitsubishi car benefit for the personal and company use of the company" 180,000 • 100,000 sales manager. Said car was purchased under the following terms: cost pric P500,000, 20 % down payment on installment basis payable for 43 month with 12 % interest per annum based on the outstanding balance • 70,000 Membership fees and dues in social and athletic clubs paid by the company for the benefit of the managerial employees What is the total allowed fringe benefit deduction
In the taxable year 2020, the following data pertain to a corporate business organization: • 90,000 De minimis benefits to all employees Local traveling expenses paid by company for the travel of his supervisory employees and the members of their families A Mitsubishi car benefit for the personal and company use of the company" 180,000 • 100,000 sales manager. Said car was purchased under the following terms: cost pric P500,000, 20 % down payment on installment basis payable for 43 month with 12 % interest per annum based on the outstanding balance • 70,000 Membership fees and dues in social and athletic clubs paid by the company for the benefit of the managerial employees What is the total allowed fringe benefit deduction
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 10PA: Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and...
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