Sample De Minimis Benefits of Employee with PhP20,000 Monthly Salary
The term “De Minimis” benefits (DMB) which 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, good- will, contentment, or efficiency. (See page 103, Tax Solutions on Employee Compensation and Benefits 2nd Edition [Aligned with TRAIN Law], 2019 [...]