How much is the allowable deduction

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Question - In 2020, Nokia corporation, recorded the following expenses in its books: Housing allowance to expatriates Php2,000,000

Representation expenses subject to liquidation 1,000,000

Monthly transportation allowance of its key officers 500,000

Required - 1. How much is the allowable deduction subject to fringe benefit tax can Nokia deduct from its gross income assuming fringe benefit taxes are paid?

2. How much fringe benefit tax Nokia must pay for 2020?

Reference no: EM133071895

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