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Additional de minimis benefits: RR 1- 2015

06 Jan 2015

The list of tax-exempt benefits has been expanded to include benefits received by an employee by virtue of a Collective Bargaining Agreement (CBA) and productivity incentive schemes provided that the combined total annual monetary value received do not exceed ten thousand pesos (P10,000.00) per employee per taxable year. The productivity incentives that can be tax-exempt under this regulation is in addition to the bonuses and productivity incentives that can be exempt within the P 30,000.00 threshold under Section (B) (7) (e) of the Tax Code