MANILA – President Benigno Aquino has approved an additional P10,000 tax exemption for each worker-taxpayer and expanded the list of minimal benefits to be exempted from income tax on compensation, a government spokesman said.
Secretary Herminio Coloma, Jr. said this include benefits under collective bargaining agreements and productivity incentive schemes. With this, he added, each worker can now claim as much as P104,225 from the current level of P94,225. The Bureau of Internal Revenue regulation on “de minimis” benefits was last amended in 2012.
“Bunga ito ng tuloy-tuloy na pakikipagdiyalogo ng Pangulong Aquino sa mga organisasyon ng mga manggagawa nitong taong 2014. Ipatutupad ang bagong patakaran sa Enero 2015 sa pamamagitan ng isang revenue regulation na ipapalabas ng BIR,” Coloma said.
“Ang dagdag na tax exemption sa mga tinaguriang ‘de minimis’ benefits ay makatuwiran dahil sa milyon-milyong manggagawang mabibiyayaan nito. Sila ay kabilang sa mga may pinakamababang antas ng sahod sa hanay ng mga manggagawa,” he added. (Mindanao Examiner)
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