The Following fringe benefits shall not be subject to basic tax or fringe benefit, except: a) Fringe benefits which are authorized and exempted from income tax under any special law. b) Benefits granted to the employee which are required by the nature of, or necessary to the trade, business or c) profession of the employer. c) De minimis benefits d) None of the choices.
The Following fringe benefits shall not be subject to basic tax or fringe benefit, except: a) Fringe benefits which are authorized and exempted from income tax under any special law. b) Benefits granted to the employee which are required by the nature of, or necessary to the trade, business or c) profession of the employer. c) De minimis benefits d) None of the choices.
Chapter15: Taxing Business Income
Section: Chapter Questions
Problem 4BCRQ
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The Following fringe benefits shall not be subject to basic tax or fringe benefit, except:
a) Fringe benefits which are authorized and exempted from income tax under any special law.
b) Benefits granted to the employee which are required by the nature of, or necessary to the trade, business or c) profession of the employer.
c) De minimis benefits
d) None of the choices.
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