Mr. See Pag’s is a Filipino citizen working as a sales agent in Echpi Computer Accessories Store in Las Piñas City. He earns P26,000 a month basic salary and transportation allowance of P2,000. His deductions per month include SSS P1,630, PhilHealth P350, Pag-IBIG P100 and Union Dues P50. How much is Mr. Pag’s taxable income?    Answer the questions briefly. 1. Is Mr. Pag liable to pay taxes in the Philippines? Why?  2. How much is his total deductions?  3. How much is his taxable income?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Mr. See Pag’s is a Filipino citizen working as a sales agent in Echpi
Computer Accessories Store in Las Piñas City. He earns P26,000 a month basic salary and transportation allowance of P2,000. His deductions per month include SSS P1,630, PhilHealth P350, Pag-IBIG P100 and Union Dues P50. How much is Mr. Pag’s taxable income? 

 

Answer the questions briefly.
1. Is Mr. Pag liable to pay taxes in the Philippines? Why? 
2. How much is his total deductions? 
3. How much is his taxable income? 

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