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Compute monetary value to be reported in quarterly fringe

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Problem 1: ABC Company designated a residential property for the use of its managerial employee. The lot has zonal value of P3,500,000 and P2,000,000 value per tax declaration. The assessed value on the improvement on the lot was P1,500,000. The lot was purchased at a cost of P2,000,000. Compute the monetary value to be reported in the quarterly fringe benefit tax return.

Reference no: EM132809947

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