MANILA, Philippines - Good news! Republic Act 10653, an act raising the tax exemption ceiling on the 13th month pay and other bonuses is signed by President Aquino.
Tax Exemption Ceiling For 13th Month Pay And Other Bonuses, Approved
Sep 24, 2015 at 9:33 AM
Posted by : Pinoy Secret Writer
Filed Under : News & Events
Should you receive your 13th month pay and other bonuses with an amount of 30,000 pesos and above, you are not exempted from tax. A lot of people were suggesting that the tax exemption should be raised since these bonuses are the signs that we worked so hard the whole year round and we will just be sadden to hear that they will be taxed.
With that, the congress filed a law to raise the tax exemption ceiling from 30,000 to 82,000 pesos. Last February 12, 2015, President Aquino signed and approved Republic Act 10653.
Meaning, 13th month pay and other bonuses below 82,000 pesos are exempted from tax! This is great news from everybody since we can now receive what we worked for the whole year in full!
So better check your payslips when you receive your 13th month pay and other bonuses!
To know more about the details of the said Act, visit the Official Gazette of the Philippines.