In implementing Section 2.33 of Revenue Regulations (RR) No. 3-98 as last amended by RR 5-2011 with respect to the Special Treatment of Fringe Benefits, the income tax and withholding tax on compensation income referred to under Section 2 of RR 5-2011 shall refer to fringe benefits tax.

All concerned are hereby enjoined to be guided accordingly and to give this Circular as wide a publicity as possible.


Adopted: 13 May 2011


(SGD.) KIM JACINTO-HENARES
Commissioner of Internal Revenue