Alex Garcia is a minimum wage earner with gross compensation income of Ph P210,000. His 13th month pay, and other benefits amounted PhP11 000. His mandatory contributions totaled to PhP7 400.00. How will you compute the taxable income and tax due of Alex? Explain your answer.

 

Anna is earning a gross compensation income of PhP318 072. His mandatory contributions amounted PhP38 168.00 and his 13th month pay is worth PhP26 506. Explain how you will compute for the:

 

a. Gross Taxable Compensation Income.

b. Tax Due.

with solutions please.

this is philippines tax system.

Answer rating: 100% (QA)

In the Philippines the computation of taxable income and tax due is based on the tax rates and tax brackets provided by the Bureau of Internal Revenue ... View the full answer