Fringe and De Minimis Benefits Flashcards
MV
Housing – rented by employer
50% of rental
MV
Housing – owned by employer, no transfer of ownership to
employee
50% Actual Value (5% FMV/Tax Dec.
or ZV whichever is higher
MV
Housing – employer buys on installment, no title transfer
50% Actual Value (5% acquisition cost,
exclusive of interest)
MV
Housing – employer buys house, transfers title
Total cost of Zonal Value
whichever is higher
MV
Expense Account
Entire value of benefit
MV
Vehicle of any kind – employer buys
motor vehicle in the name of employee
Entire value of benefit
MV
Vehicle of any kind – Employer buys car installment in name of
employee
Cost exclude interest divided by 5
years
MV
Vehicle of any kind – Cost partially borne by employer in name
of employee
Entire value of cost borne by
employer
MV
Vehicle of any kind – Employer owns motor vehicle fleet
50% (cost of motor vehicle/5 years)
MV
Vehicle of any kind – Employer rents motor vehicle fleet
50% (rental of motor vehicle)
MV
Household expense
Entire value of benefit
MV
Interest on loan less than market (12%
standard rate)
Foregone interest equivalent
MV
Membership fees in clubs paid for by employer
Full value of benefit
MV Expenses for foreign travel - First class ticket
30%
MV
Expenses for foreign travel - Travel expenses of employee paid for by employer
Full value of benefit
MV
Holiday and vacation expenses – expenses of
employee paid for by employer
Full value of benefit
MV
Educational assistance to employee &/or dependents,
except scholarship to employee directly connected to
business
Full value of benefit
MV
Life/health/non-life insurance in excess of allowed
Full value of benefit
DMB
Monetized unused vacation leave credits of employees
not exceeding ten (10) days during the year
DMB
Monetized value of vacation and sick leave credits paid to
government officials and employees
Full
DMB
Medical cash allowance to dependents of employees
not
exceeding One Thousand Five Hundred Pesos (P1500.00)
per employee per semester or Two Hundred Fifty Pesos
(P250.00) per month
DMB
Rice subsidy
Two Thousand Pesos (P2,000.00) or one (1)
sack of fifty (50) kg. rice per month amounting to not more
than Two Thousand Pesos (P2,000.00)
DMB
Uniform and clothing allowance
not exceeding Six Thousand Pesos
(P6,000.00) per annum
DMB
Actual medical assistance, e.g., medical allowance to cover medical and healthcare needs, annual medical/executive check-up, maternity
assistance, and routine consultations
not exceeding Ten Thousand Pesos (P10,000.00) per annum
