House hikes tax-free bonus ceiling to P70k

0

Despite the lack of warm bodies on the plenary floor, the House of Representatives approved the measure hiking the ceiling on tax-free 13th month pay to P70,000 from P30,000.

Advertisements

House Bill 4970 principally authored by Rep. Jerry Treñas of Iloilo City was passed via a viva voce vote.

“There is no reason to delay it,” Rep. Romero Quimbo of Marikina City, chairman of the House Committee on Ways and Means, said.

The existing ceiling of P30,000 was set in 1994.

Quimbo earlier said P30,000 is only worth P14,000 now because of inflation.

Share.
loading...
Loading...

Please follow our commenting guidelines.

Comments are closed.