Scribd Logo
Upload

Welcome to Scribd!

  • 738 views

    Fringe Benefit Tax

    Uploaded by

    KHAkadsbdhsg
    WBV Company provided their Filipino branch manager Ms. Leni an additional ₱5,000 quarterly for golf club membership fees. This fringe benefit is subject to Fringe Benefits Tax (FBT) in the Philippines. Based on the calculations provided, the grossed-up monetary value of the fringe benefit is ₱7,692.31. Multiplying this by the 35% FBT rate results in a total Fringe Benefits Tax of ₱2,692.31 that is due for this benefit.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Fringe Benefit Tax

    Uploaded by

    KHAkadsbdhsg
    738 views1 page
    WBV Company provided their Filipino branch manager Ms. Leni an additional ₱5,000 quarterly for golf club membership fees. This fringe benefit is subject to Fringe Benefits Tax (FBT) in the Philippines. Based on the calculations provided, the grossed-up monetary value of the fringe benefit is ₱7,692.31. Multiplying this by the 35% FBT rate results in a total Fringe Benefits Tax of ₱2,692.31 that is due for this benefit.

    Original Description:

    Original Title

    Fringe Benefit Tax.docx

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    WBV Company provided their Filipino branch manager Ms. Leni an additional ₱5,000 quarterly for golf club membership fees. This fringe benefit is subject to Fringe Benefits Tax (FBT) in the Philippines. Based on the calculations provided, the grossed-up monetary value of the fringe benefit is ₱7,692.31. Multiplying this by the 35% FBT rate results in a total Fringe Benefits Tax of ₱2,692.31 that is due for this benefit.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    738 views1 page

    Fringe Benefit Tax

    Uploaded by

    KHAkadsbdhsg
    WBV Company provided their Filipino branch manager Ms. Leni an additional ₱5,000 quarterly for golf club membership fees. This fringe benefit is subject to Fringe Benefits Tax (FBT) in the Philippines. Based on the calculations provided, the grossed-up monetary value of the fringe benefit is ₱7,692.31. Multiplying this by the 35% FBT rate results in a total Fringe Benefits Tax of ₱2,692.31 that is due for this benefit.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    WBV Company (a domestic employer/company) granted Ms.

    Leni (a Filipino branch manager


    employee), in addition to her basic salaries, ₱5,000 cash per quarter for her personal membership
    fees at Country Golf Club.  Compute for the Fringe Benefits Tax (FBT).

    Solution:
    Monetary Value of Fringe Benefit P 5,000
    Divided by Gross Factor 65%
    Grossed-Up Monetary Value P 7,692.31
    x FBT Rate 35%
    Fringe Benefits Tax P 2,692.31

    You might also like