A. Mr. Edgar earns the following compensation income in a taxable year: Basic salary 288,000 Uniform...

 

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A. Mr. Edgar earns the following compensation income in a taxable year: Basic salary 288,000 Uniform allowance 7,000 Laundry allowance 2,400 13th month pay 24,000 How much is the tax due? (Use tax table applicable to Years 2018 to 2022) B. Information on Mr. B's compensation is provided below: Regular monthly salary: Basic Monthly Salary Cost of living allowance (COLA) per month Rice subsidy per month Annual benefits: 13th month pay Uniform allowance How much is the tax due for the year? 120,000 7,000 120,000 6,000 2,000 C-D Use the following information for the next two questions: Mr A, employed in the private sector, received the following benefits during the y Rice subsidy of one 50 kg sack of rice per month worth P2,500 Uniform and clothing allowance, P8,000 for the year Medical benefits for hospitalization during the year, P38,000 Laundry allowance, PI,000 per month Omega wristwatch worth P230,000 received as a loyalty award for having worke the company in the last 25 year. 13 month pay, P40,000 Christmas bonus, P6,000 C. How much is Mr. X's taxable "13" month pay and Other Benefits? D. If Mr X's total "take-home pay (excluding the benefits above) for the year was 480,000, how much is Mr X's tax due for the year? A. Mr. Edgar earns the following compensation income in a taxable year: Basic salary 288,000 Uniform allowance 7,000 Laundry allowance 2,400 13th month pay 24,000 How much is the tax due? (Use tax table applicable to Years 2018 to 2022) B. Information on Mr. B's compensation is provided below: Regular monthly salary: Basic Monthly Salary Cost of living allowance (COLA) per month Rice subsidy per month Annual benefits: 13th month pay Uniform allowance How much is the tax due for the year? 120,000 7,000 120,000 6,000 2,000 C-D Use the following information for the next two questions: Mr A, employed in the private sector, received the following benefits during the y Rice subsidy of one 50 kg sack of rice per month worth P2,500 Uniform and clothing allowance, P8,000 for the year Medical benefits for hospitalization during the year, P38,000 Laundry allowance, PI,000 per month Omega wristwatch worth P230,000 received as a loyalty award for having worke the company in the last 25 year. 13 month pay, P40,000 Christmas bonus, P6,000 C. How much is Mr. X's taxable "13" month pay and Other Benefits? D. If Mr X's total "take-home pay (excluding the benefits above) for the year was 480,000, how much is Mr X's tax due for the year?

Answer rating: 100% (QA)

A The tax due for Mr Edgars compensation income can be calculated using the tax table applicable to Years 2018 to 2022 Based on the provided information Mr Edgars taxable compensation income is the su... View the full answer