P-Noy approves additional P10,000 tax exemption

2014_1116__malacanang-logo3

MANILA, Dec. 29 — Malacanang on Sunday announced that President Benigno S. Aquino III approved an additional P10,000 tax exemption for each worker-taxpayer.

Presidential spokesperson Herminio Coloma, Jr., on Sunday in a radio interview said President Benigno S. Aquino III approved an additional P10,000 tax exemption for each worker-taxpayer.

Coloma said the government has expanded the list of de minimis benefits to be exempted from income tax on compensation.

This now include benefits under collective bargaining agreements and productivity incentive schemes.

Each worker-taxpayer can claim as much as P104,225 from the current level of P94,225.

The BIR revenue regulation on benefits was last amended in 2012.

Tell us your thoughts on this article. If logged in with any of your Wordpress.com, Twitter, Facebook, Google+, or registered on this site before, then you can simply write your comment below. Thanks and appreciate your feedback.

This site uses Akismet to reduce spam. Learn how your comment data is processed.