Supreme Court E-Library
Information At Your Fingertips


  View printer friendly version

(NAR) VOL. 26 NO. 1/ JANUARY - MARCH 2015

[ BIR Revenue Regulations No. 1-2015, January 05, 2015 ]

FURTHER AMENDMENTS TO REVENUE REGULATIONS NOS. 2-98 AND 3-98, AS LAST AMENDED BY REVENUE REGULATIONS NOS. 5-2008, 5-2011, WITH RESPECT TO "DE MINIMIS BENEFITS"



Adopted: 05 January 2015
Date Filed: 14 January 2015

Pursuant to Section 4 and 244 in relation to Section 33 of the Tax Code of 1997, these Regulations are hereby promulgated to further amend Revenue Regulations (RR) No. 2-98, as last amended by RR Nos. 5-2008, 5-2011 and 8-2012, with respect to "De Minimis" benefits which are exempt from income tax on compensation as well as from fringe benefit tax.

SECTION 1. Section 2.78.1 (A) (3) of RR 2-98, as last amended by RR 8-2012, is hereby further amended to read as follows:

"Sec. 2.78.1. Withholding Tax on Compensation Income.-

(A) ...

xxx        xxx        xxx

(3) Facilities and privileges of relatively small value. -

xxx        xxx        xxx

(k) Benefits received by an employee by virtue of a collective bargaining agreement (CBA) and productivity incentive schemes provided that the total annual monetary value received from both CBA and productivity incentive schemes combined do not exceed ten thousand pesos (Php10,000.00) per employee per taxable year;

xxx        xxx        xxx"

SECTION 2. Section 2.33 (c) of RR 3-98, as last amended by RR 8-2012, is hereby further amended to read as follows:

"Sec. 2.33. Special Treatment of Fringe Benefit Tax. -

xxx        xxx        xxx

(C) Fringe Benefits Not Subject to Fringe Benefit Tax. -

xxx        xxx        xxx

(k) Benefits received by an employee by virtue of a collective bargaining agreement (CBA) and productivity incentive schemes provided that the total annual monetary value received from both CBA and productivity incentive schemes combined, do not exceed ten thousand pesos (Php10,000.00) per employee per taxable year;

xxx        xxx        xxx"

SECTION 3. Repealing Clause. - All existing rules and regulations and other issuances or parts thereof which are inconsistent with the provisions of these Regulations are hereby modified, amended or revoked accordingly.

SECTION 4. Effectivity. - These Regulations shall take effect immediately upon publication.


(SGD) CESAR V. PURISIMA
Secretary of Finance

Recommending Approval:

(SGD) KIM S. JACINTO-HENARES
Commissioner of Internal Revenue
© Supreme Court E-Library 2019
This website was designed and developed, and is maintained, by the E-Library Technical Staff in collaboration with the Management Information Systems Office.