House Agrees on Tax Exemptions of 13th Month Pay, Bonuses

tax reform bill

Members of the Senate and House of Representatives bicameral conference committees have agreed Wednesday to increase the tax exemption ceiling on the 13th month pay and other bonuses to P90,000 in President Rodrigo Duterte’s tax reform package known as Tax Reform for Acceleration and Inclusion (TRAIN) bill. This was revealed yesterday by Sen. Juan Edgardo ‘’Sonny’ Angara, head of the Senate panel and chairman of the Senate ways and means committee, as both panels were rushing a compromise TRAIN bill for ratification by both legislative chambers before they go on a month-long…