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C-D. Use the following information for the next two questions:
Mr A, employed in the private sector, received the following
benefits during the year:
• 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 worked for the company in the last 25 years.
• 13 month pay, P40,000
• Christmas bonus, P6,000
Question: C. How much is Mr. X's taxable "13" month pay and Other
Benefits?
Answer:
Question: 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?
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