The following income received by officials and employees in the public sector are not subject to income Eax and withholding tax on compensation, except The excess of the 13th month pay and other benefits paid or accrued during the year over P90,000 Representation and transportation allowance (RATA) granted under the General Appropriations Act Personnel Economic Relief Allowance (PERA) granted to government personnel Monetized value of leave credits paid to government officials and employees

The following income received by officials and employees in the public sector are not subject to income Eax and withholding tax on compensation, except The excess of the 13th month pay and other benefits paid or accrued during the year over P90,000 Representation and transportation allowance (RATA) granted under the General Appropriations Act Personnel Economic Relief Allowance (PERA) granted to government personnel Monetized value of leave credits paid to government officials and employees

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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