What is the fringe benefit tax

Assignment Help Accounting Basics
Reference no: EM132538014

Question - A Corp. a regional operating headquarters of a multinational Corp. established in the Phils. provided its employees cash and noncash fringe benefits in 2019 as follows:

Total amount of fringe benefits P1,000,000

60% of said amount was given to rank and file employees

40% of said amount was given to corporate officers as follow:

a. To resident citizens 45%

b. To non-resident aliens not engaged in business in the Phils. 35%

c. To special aliens and Filipino employees 20%

Q1. What is the fringe benefit tax due to be paid related to the resident citizens employees?

Q2. What is the fringe benefit tax due to be paid related to the special aliens employees?

Q3. What is the fringe benefit tax due to be paid related to the NRANETB employees?

Q4. How much is the total fringe benefit tax due to be paid by A Corporation?

Reference no: EM132538014

Questions Cloud

External service provider for data-security protection : The implementation of an external service provider for data/security protection, Media-rich presentations should include multimedia such as graphics, pictures,
Unit 11 research project assignment : Unit 11 Research Project Assignment Help and Solution, Pearson BTEC HND in Business (RQF) - Assessment Writing Service
Calculate the accumulated depreciation and carrying amount : For the aircraft, calculate the accumulated depreciation and carrying amount at 30 June2019, 30 June 2020 and 30 June 2021 using the straight-line method
Prepare entries in relation to the equipment : Highland Limited acquired two identical excavating machines for a total cost of $240,000. Prepare entries in relation to the equipment
What is the fringe benefit tax : Total amount of fringe benefits P1,000,000. What is the fringe benefit tax due to be paid related to the resident citizens employees
HWE Accessories produces accessories for cell phones : HWE Accessories produces accessories for cell phones, such as cases and screen covers. Most of the current sales occur in retail stores.
Make no payment and interest will double : Make no payment and your interest will double for all remaining amounts outstanding.In China, there is a declaration of an emergency due to COVID-19
Topic of big data and business impacts : Research at least two articles on the topic of big data and its business impacts. Write a brief synthesis and summary of the two articles.
What the annually compounded rate of return misty needs : What The annually compounded rate of return Misty needs to earn to reach her goal is? Misty needs to have $21,000 in four years to fulfill her goal

Reviews

Write a Review

Accounting Basics Questions & Answers

  Commonly used bases other than gaap

Auditors frequently audit statements prepared on bases other than GAAP. Identify and discuss four (4) commonly used bases other than GAAP.

  Calculate the capital gain for bob arising from sale

Calculate the capital gain for Bob arising from sale of the land for

  Total compensation cost pertaining to the restricted share

Determine the total compensation cost pertaining to the restricted share.

  Determining the product testing

A company is producing and market- ing new reading activities for elementary school children that it believes will improve reading comprehension scores.

  Company with the ultimate goal of making a recommendation

discuss the financial health of this company with the ultimate goal of making a recommendation to other investors

  What is meant by the term break-even point

Companies such as Snowboard Company often want to know the sales required to break even, What is meant by the term break-even point

  What amount will wildhorse receive

Wildhorse Co. signed a lease for an office building for a period of 8 years. Under the lease agreement, a security deposit of $9,000 is made.

  The balance in accounts receivable at the beginning

The balance in accounts receivable at the beginning of 2016 was $670. During 2016, $2,200 of credit sales were recorded.

  Problem regarding the assigning costs to jobs

The following transactions occurred in June at Fast Wheels, Inc., a custom bicycle manufacturer:

  How will the corporation identify the distributions

A-corp distributed $10,000 cash to John, its sole Class A common stockholder in May, 2009. How will the corporation identify the distributions to John and Bill

  Present and future value of an uneven cash flow stream an

present and future value of an uneven cash flow stream an investment will pay 100 at the end of each of the next 3

  Discuss how much goodwill will result from this transaction

Calculate the ROI for Target Co. based on its present operating income and the fair value of its net assets

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd