alex leases a building to a client. During the year, he received the following remittance from the lessee: Rental, net of 5% creditable withholding tax - 2,000,000 Real property tax of the leased building - 60,000 Reimbursement for utilities used by the lessee paid by alex - 200,000 How much will be included in his gross income subject to regular tax?

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Q: d

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Q: schedular tax on taxable income.

A: Correct Answer :- C The schedular tax on taxable income.

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.