Workers To Get Additional P10,000 Tax Exemption

Lower paid workers will enjoy their take home pay even more starting next month after President Aquino approved the additional tax exemption.


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Here's a news release from MalacaƱang:

President Benigno S. Aquino III approved an additional P10,000 tax exemption for each worker-taxpayer, Presidential Communication Operations Office Secretary Herminio Coloma, Jr., said on Sunday.

In a radio interview over dzRB Radyo ng Bayan, 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, he added.

With this, each worker-taxpayer can claim as much as P104, 225 from the current level of P94, 225. The BIR 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 (Bureau of Internal Revenue)," said Coloma.

Quoting Finance Secretary Cesar Purisima, Coloma added, "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."