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Tax Law

22 Oct

Health Insurance Given to Employees May be Taxable

Per RMC 50-2018, the premium on Health Card paid by the employer for all employees, whether rank-and-file or managerial/supervisory, under a group insurance shall be included as part of other benefits of these employees which are subject to the PhP90,000.00 threshold. The new ceiling of 13th month pay and other benefits of P90,000.00 offers a wide range of opportunity to augment the income of employees without tax implications. Legal Basis of this benefit is RA 10963. Under Section 9 of the [...]

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04 May

De Minimis Benefits (Certain Items) Increased under RR 11-2018

De Minimis Benefits (DMB) are among those sources of compensation income which are exempt from tax. Most employers rely on these benefits to augment the net pay of their employees. Grab a copy of the newly released title Tax Solutions on Employee Compensation and Benefits (under TRAIN Law), 2nd Edition 2019 by Atty. Villanueva Recently, Revenue Regulation No. 11-2018, implementing the provisions of R.A. 10963 or the TRAIN Law increased certain items of the De Minimis Benefits. It further amended Section 2.78.1 [...]

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27 Apr

Allowance and its Labor and Tax Implications

Allowance is generally used by employers as means to augment the take home income of employees hoping to avoid impacting on basic salary and/or paying the tax. However, it is not as simplistic as that. Grab a copy of the newly released title Tax Solutions on Employee Compensation and Benefits (under TRAIN Law), 2nd Edition 2019 by Atty. Villanueva Allowance can take several forms. It may be regular part of compensation or given occasionally. It can serve various purposes like transportation, communication, [...]

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04 Mar

Withholding Tax Computation Under the TRAIN Law

Withholding tax computation has been provided by the BIR in the RMC that it issued earlier this year. Recently, the BIR issued RR 8-2018 as regards computation of withholding on compensation income, among others. Grab a copy of the newly released title Tax Solutions on Employee Compensation and Benefits (under TRAIN Law), 2nd Edition 2019 by Atty. Villanueva The post below is based on the article posted in EBV Law Office. Under the TRAIN law the compensation range that is not subject to [...]

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02 Mar

De Minimis Benefits Remain to be Exempt under the TRAIN Law

De Minimis Benefits (DMB) are exempt from the fringe benefit tax and income tax shall, in general, be limited to facilities or privileges furnished or offered by an employer to his employees that are of relatively small value and are offered or furnished by the employer merely as a means of promoting the health, goodwill, contentment, or efficiency. Grab a copy of the newly released title Tax Solutions on Employee Compensation and Benefits (under TRAIN Law), 2nd Edition 2019 by Atty. [...]

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25 Jan

TAX RULES ON EMPLOYEE BENEFITS AND PAY UNDER THE TAX REFORM FOR ACCELERATION AND INCLUSION (TRAIN)

Tax rules on employee compensation and benefits change dramatically with the TRAIN law. On December 19, 2017 Congress enacted R.A. 10963, otherwise known as the Tax Reform for Acceleration and Inclusion (TRAIN) which changed substantially the taxation rules on employee salaries and benefits. TRAIN law took effect on January 1, 2018. Grab a copy of the newly released title Tax Solutions on Employee Compensation and Benefits (under TRAIN Law), 2nd Edition 2019 by Atty. Villanueva The most notable change is the Tax Schedule [...]

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01 Mar

MINIMUM WAGE EARNERS WHO SUFFERED DEDUCTION FOR THE PERIOD JANUARY TO JULY 2008 ARE ENTITLED TO TAX REFUND

On July 6, 2008, R.A. 9504 took effect giving tax exemption on Minimum Wage Earners (MWE). The BIR required that those exempted should still pay tax from January 1, 2008 to July 5, 2008, or the so-called pro-rated application, prior to the effectivity of tax exemption law for MWE. Is the BIR correct in pro-rating the tax exemption? No. The Supreme Court said that there is no reason to make a distinction between the income earned prior to the effectivity of [...]

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