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Guidelines on the Grant of P5,000.00 Cash Gift

📚 Legal Basis Below are the existing legal bases for the grant of cash gift to government employees: Budget Circular No. 2016-4 dated April 28, 2016 — Updated Rules and Regulations on the Grant of the Year End Bonus and…

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12 NON-TAXABLE COMPENSATION INCOME OF GOVERNMENT EMPLOYEES THAT EVERY ACCOUNTANT SHOULD KNOW TO AVOID COMMITTING ERRORS IN THE COMPUTATION OF THEIR INCOME TAX

[ad_1] 1. Thirteenth (13th) Month Pay (Year-End Bonus) and Other Benefits not exceeding Ninety Thousand Pesos (P90,000.00) paid or accrued during the year. Any amount exceeding Ninety Thousand Pesos (P90,000.00) are taxable compensation. 2. Facilities and privileges of relatively small…

Read More12 NON-TAXABLE COMPENSATION INCOME OF GOVERNMENT EMPLOYEES THAT EVERY ACCOUNTANT SHOULD KNOW TO AVOID COMMITTING ERRORS IN THE COMPUTATION OF THEIR INCOME TAX
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