29 Questions
Which of the following is considered as a taxable fringe benefit for rank and file employees?
Performance bonus
What type of allowance given to an employee is exempt from taxation?
Reimbursement-type allowance
Which of the following is an exempt fringe benefit for rank and file employees?
Living quarters
What type of payments are considered exempt for rank and file employees?
Dismissal payments
Which of the following is considered as a taxable fringe benefit for rank and file employees?
Fees received by an employee for the performance of a service
Which one of these is considered as a taxable fringe benefit for rank and file employees?
$100 meal subsidy
Which of the following is NOT considered a taxable fringe benefit for Managerial or Supervisory Employees?
Retirement and separation benefits exempt under the law
Under what conditions would the lodging cost in a hotel or establishment be considered as a taxable fringe benefit?
If the lodging cost exceeds US$300/day
Which of the following is a condition for reasonable foreign travel expenses to be exempt from fringe benefit tax?
The travel must be supported by official communication from business associates abroad indicating the purpose of the meeting
Which of the following housing benefits is exempt from being considered as a taxable fringe benefit?
Housing benefits provided to military officials of the Armed Forces of the Philippines
What is taxable as a fringe benefit when provided by the employer for the employee in social and athletic clubs or other similar organizations?
Membership fees, dues, and other expenses in full
When would traveling expenses paid by the employer for the travel of family members of the employee be treated as taxable fringe benefits?
When there is no documentary evidence to support that the foreign travel was for business meetings or convention
Which of the following is NOT treated as a taxable fringe benefit for household personnel if shouldered by the employer?
Payment for educational expenses
What percentage of the cost of a first-class airplane ticket is considered as a taxable fringe benefit?
30% of the cost of the ticket
Under what condition would retirement and separation benefits be considered as taxable fringe benefits?
Under no circumstance are retirement and separation benefits considered as taxable fringe benefits
Which of the following is considered a taxable fringe benefit for rank and file employees?
Meals furnished or subsidized by the employer
Which type of allowance given to an employee is exempt from taxation?
Personal economic relief allowance (PERA) granted to government employees
What is exempt from being considered as a taxable fringe benefit for rank and file employees?
Courtesy discounts on purchases
Which of the following is NOT treated as a taxable fringe benefit for rank and file employees?
Performance bonus
Under what condition would retirement and separation benefits be considered as taxable fringe benefits?
When the retirement and separation benefits are paid in lump sum or in regular installments
What type of payments are considered exempt for rank and file employees?
Meals, living quarters, de minimis entertainment, medical services
Which type of allowance given to an employee is exempt from taxation?
Reimbursement-type allowance
What percentage of the cost of a first-class airplane ticket is considered as a taxable fringe benefit?
30%
Under what condition would retirement and separation benefits be considered as taxable fringe benefits?
If subject to final tax
Which of the following is NOT treated as a taxable fringe benefit for household personnel if shouldered by the employer?
Personal driver of the employee
What type of payments are considered exempt for rank and file employees?
Excess advances retainable by the employee
Which of the following is considered as a taxable fringe benefit for rank and file employees?
$300/day lodging cost in a hotel
When would traveling expenses paid by the employer for the travel of family members of the employee be treated as taxable fringe benefits?
If not for business meetings or conventions
What is taxable as a fringe benefit when provided by the employer for the employee in social and athletic clubs or other similar organizations?
$500 annual membership fees in social clubs
Test your knowledge of taxable fringe benefits provided to rank and file employees, including meals, rental value of quarters, life insurance premiums, and transportation allowances.
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