Higher tax exemption for workers approved

STARTING next month, millions of workers will enjoy bigger tax exemption after President Benigno Aquino 3rd ordered the Labor and Finance departments to expand the list of benefits that will not be taxed to include those under collective bargaining agreements (CBAs) and productivity incentives.

In an interview over state-run Radyo ng Bayan on Sunday, Presidential Communications Secretary Herminio Coloma Jr. said the President has approved the new rules on tax exemptions proposed by Labor Secretary Rosalinda Baldoz and Finance Secretary Cesar Purisima.