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Deadline: June 5, 2020: WWW - Bir.gov - PH

The document provides instructions for 30 BSBA 2 students in two schedules and 17 BSBA 3 students to summarize amendments under the TRAIN Law regarding income taxation in a yellow paper. It also instructs them to download and properly fill out BIR Form 2316, computing tax due using the TRAIN Law tax table for a sample gross compensation income of PHP 963,742 that includes non-taxable benefits, contributions, and taxable salary and 13th month pay. The deadline for completing these tasks is June 5, 2020.

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Rence Dumago
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49 views1 page

Deadline: June 5, 2020: WWW - Bir.gov - PH

The document provides instructions for 30 BSBA 2 students in two schedules and 17 BSBA 3 students to summarize amendments under the TRAIN Law regarding income taxation in a yellow paper. It also instructs them to download and properly fill out BIR Form 2316, computing tax due using the TRAIN Law tax table for a sample gross compensation income of PHP 963,742 that includes non-taxable benefits, contributions, and taxable salary and 13th month pay. The deadline for completing these tasks is June 5, 2020.

Uploaded by

Rence Dumago
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Subject: Income Taxation

No. of Students:

30 Students (BSBA 2 – Sched 1)

30 Students (BSBA 2 – Sched 2)

17 Students (BSBA 3)

Instructions:

1. In a yellow paper, make a summary of the amendments under the (Tax Reform for Acceleration
and Inclusion) TRAIN Law or Republic Act No. 10963.

Note: You may use the book “Tax Made Less Taxing: The TRAIN Supplement” by Ignatius
Michael D. Ingles as reference.

2. Download BIR Form No. 2316 from Bureau of Internal Revenue (BIR) website: www.bir.gov.ph
and properly fill it out with the following details:

Non-taxable 13th Month Pay 90,000.00


De Minimis Benefits 21,000.00
SSS, GSIS, PhilHealth & Pag-IBIG Contribution & Union Dues 90,309.96
Taxable Basic Salary 654,326.04
Taxable 13th Month Pay 84,106.00
Gross Compensation Income 963,742.00

Also compute the Tax Due (item # 29) using the TRAIN Law tax table.

Deadline: June 5, 2020

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