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  • Basic Tax Computation

    Transféré par

    Idsil Cabredo
    8 vues3 pages
    The document details compensation and tax withholding for an employee from January to December 2016. It shows that from January to September the employee received a gross compensation of PHP 126,000 with a taxable amount of PHP 76,000 resulting in a tax due of PHP 9,700 but PHP 15,200 was withheld, so PHP 5,500 will be refunded. It also shows that from September to December the employee received a gross compensation of PHP 81,927.49 with a taxable amount of PHP 31,927.49 resulting in a tax due of PHP 2,789.12 but PHP 7,967.22 was withheld, so PHP 5,178.10 will be refunded.

    Description originale:

    BIR standard tax computation

    Titre original

    basic tax computation

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    The document details compensation and tax withholding for an employee from January to December 2016. It shows that from January to September the employee received a gross compensation of PHP 126,000 with a taxable amount of PHP 76,000 resulting in a tax due of PHP 9,700 but PHP 15,200 was withheld, so PHP 5,500 will be refunded. It also shows that from September to December the employee received a gross compensation of PHP 81,927.49 with a taxable amount of PHP 31,927.49 resulting in a tax due of PHP 2,789.12 but PHP 7,967.22 was withheld, so PHP 5,178.10 will be refunded.

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme XLSX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    8 vues3 pages

    Basic Tax Computation

    Transféré par

    Idsil Cabredo
    The document details compensation and tax withholding for an employee from January to December 2016. It shows that from January to September the employee received a gross compensation of PHP 126,000 with a taxable amount of PHP 76,000 resulting in a tax due of PHP 9,700 but PHP 15,200 was withheld, so PHP 5,500 will be refunded. It also shows that from September to December the employee received a gross compensation of PHP 81,927.49 with a taxable amount of PHP 31,927.49 resulting in a tax due of PHP 2,789.12 but PHP 7,967.22 was withheld, so PHP 5,178.10 will be refunded.

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme XLSX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 3

    2016

    Total compensation received from Jan 1- Aug 30 112000


    Add: Compensation to be received on Sept 14000
    Gross Compensation Jan-Sept 2016 126000
    Less: personal exemption 50000
    Taxable Compensation 76000

    Tax Due* 9700


    Tax Withheld from Jan to Aug 15200

    Excess tax withheld to be refunded by


    employer on or before Sept 30, 2016 of the 5500
    current year

    *Tax due on 70,000 8500


    Tax excess(6000*20%) 1200
    Tax on 6000 9700
    Total compensation received from Sept 1- Nov 30 PHP 58,805.66
    Add: Compensation to be received on Dec PHP 23,121.83
    Gross Compensation Sept-Dec 2016 PHP 81,927.49
    Less: personal exemption PHP 50,000.00
    Taxable Compensation PHP 31,927.49

    Tax Due* PHP 2,789.12


    Tax Withheld from Sept to Nov PHP 7,967.22

    Excess tax withheld to be refunded PHP (5,178.10)


    by employer on or before Dec salary

    *Tax due on 30,000 PHP 2,500.00


    Tax excess(6000*20%) PHP 289.12
    Tax on 12000 PHP 2,789.12
    23121.83 1984.28

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