Reference no: EM132950012

Question - An employer-single proprietor showed us its data for the current taxable year 2019:

a. Cost of Christmas gifts during the celebrations for employees, P35,000.

b. Employee's expense account, P32,000.

c. Uniform allowances not over P500 per month.                                                             

d. Car benefit to the chief accountant for his personal and company use. Said car was purchased in the employee's name, fully paid by the employer, P660,000.

e. Personal expenses of the officers, paid for by the company-employer, P10,000.

f. Monetized unused vacation leave credits, P2,700.

g. Household personnel benefit, P12,500.

h. Medical cash allowance of P5,000 per semester to an employee, P10,000.

i. Housing unit furnished to an employee, where the said unit was situated inside the premises of the business, P25,000.

j. Tuition fees in high school of a son of the manager-employee, borne by the employer-company, P14,000.

k. One week expense on a holiday vacation of the company's chief marketing officer and his family abroad, P47,500.

l. Year's rental for an apartment rented out by the company for the use of its comptroller, P80,000.

Required - How much is the total fringe benefits tax for the year?