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BIR thumbs down higher tax exemption for 13th month pay

MANILA  (Mabuhay) – A proposed law seeking to increase the tax exemption cap for the 13th month pay, Christmas bonus and other benefits will lead to billions of pesos in losses for the government, according to the Bureau of Internal Revenue. Internal Revenue Commissioner Kim...
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Recto wants higher take home pay for Pinoys this Christmas

MANILA (Mabuhay) – Senate President Pro-Tempore Ralph Recto has filed a resolution seeking to increase the cap on the 13th month pay, Christmas bonus and other benefits exempted from income tax. Senate Bill No. 256 seeks to increase the cap to P75,000 from the current P30,000....