SB 1335

Exclusion of 13th Month Pay/Benefits from Taxable Income

An Act Increasing the Ceiling for Total Exclusion of 13th Month Pay and Other Benefits from the Computation of Taxable Income from Thirty Thousand Pesos (Php30,000.00) to Sixty Thousand Pesos (Php60,000.00), Thereby, Amending Section 32 of Republic Act 8424 Otherwise Known as the National Internal Revenue Code of 1997