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Acquisition cost
Divide by
Grossed-up monetary value
Multiply by
Fringe benefit tax
P408,000
68%
P600,000
32%
P192,000
P135,000
75%
P180,000
25%
P45,000
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P170,000
85%
P200,000
15%
P30,000
MONETARY VALUE
The monetary value of the fringe benefit is not always equal to the
actual amount received by the employee. Generally, these are the
guidelines:
1. If the fringe benefit is granted in money, or is directly paid for by
the employer, then the value is the amount granted or paid for.
2. If the fringe benefit is granted or furnished by the employer in
property other than money and ownership is transferred to the
employee, then the value of the fringe benefit shall be equal to the
fair market value of the property.
3. If the fringe benefit is granted or furnished by the employer in
property other than money but ownership is not transferred to the
employee, the value of the fringe benefit is equal to the
depreciation value (book value) of the property.
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