-imposition of fringe benefits (1b,2,3) >>documentary evidences -determination of grossed-up monetary value (GMoVa) >>traveling expenses of employee’s family -coverage of FB (3) members -determination of amount subject to FB tax (2) -guidelines for valuation of FB (3) Educational Assistance to employee or his dependents Housing Privilege -valuation -valuation of housing privilege >>in general >>leased >>for convenience and furtherance of >>owned employer’s tarde or business >>purchased on installment >>educational assistance to employee’s >>purchased and transferred (ownership) dependents >>transferred at less than acquisition cost >>housing privilege for military officials >>housing unit adjacent to business Household Expenses establishment or factory >>temporary housing for an employee Membership Fees
Holidays and Vacation Expenses
Expense Accounts -valuation of expense account Insurance Premiums >>in general >>expenses paid by employee, reimburse by employer >>personal expenses paid or reimbursed by employer FB received by certain individuals >>representation and transportation allowance >>nra not engaged in trade or business in the which are part of employee’s compensation philippines income >>alien individual employed by regional or area headquarters and regional operating headquarters of a multinational company Motor Vehicle >>alien individual employed by an offshore -valuation of motor vehicle banking unit of a foreign bank established >>purchased by employer in the Philippines >>cash given by employer to purchase >>alien individual employed by a foreign service (transferred) contractor or subcontractor engaged in >>purchase on installment (transferred ) petroleum operations in the Philippines >>portion of purchase price shouldered >>any of its Filipino employees employed and (transferred) occupying the same position as those occupied >>fleet of motor vehicles owned and or held by aforesaid alien employees maintained >>FB received by employees in special >>fleet of motor vehicles leased economic zones (including clark special >>use of yacht economic zone and subic special economic >>use of aircraft (including helicopter) and free trade zone
FB not subject to FB Tax (6)
Interest on Loan at less than Market Rate -valuation De minimis benefits (11) >>benchmark interest rate Tax Accounting for FB and Tax Due
Expenses for Foreign travel
-valuation >>attendance at business meetings or Conventions