Test Your Knowledge on Regular Income Taxation
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Questions and Answers

Which of the following is considered a non-taxable compensation?

  • Excess 13 month pay and other benefits above P90,000 (correct)
  • Mandatory contributions to SSS, PhilHealth, HDMF and union dues
  • Variable performance-based pay
  • Regular compensation income

    • Which type of employee benefits are exempt under treaty or international agreements?

  • Exempt retirement benefits
  • Fringe benefits subject to fringe benefits tax
  • Exempt separation benefits
  • Employee benefits required by the nature of, or necessary to, the trade, business or conduct of profession or business of the employer (correct)

    • Which of the following is not considered a de minimis benefit?

  • Laundry allowance of P300 per month
  • Monetized unused vacation leave credits
  • 13th month pay (correct)
  • Rice subsidy of P2,000 or less

    • Which of the following is a feature of employer-employee relationship?

    <p>Selection and engagement of employees</p> Signup and view all the answers

    Which of the following is a composition of compensation income?

    <p>Regular compensation income</p> Signup and view all the answers

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