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Announcement

New BIR Regulation on Tax Exemptions for Employees

On January 5, 2015, the Bureau of Internal Revenue (BIR) issued Revenue Regulations No. 1-2015, entitled "Further Amendments to Revenue Regulations Nos. 2-98 and 3-98, as Last Amended by Revenue Regulations Nos. 5-2008, 5-2011 and 8-2012, with Respect to De Minimis Benefits," which expands tax exemptions for employees and consequently, additional take home pay, through the inclusion of productivity incentives and CBA-negotiated benefits in the list of de minimis benefits. This new BIR regulation took effect on January 6, 2015.

Click here to download a copy of the regulation.

 

 

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