Raising tax cap on bonuses to hike takehome pay – Angara

The Senate committee on ways and means, chaired by Sen. Sonny Angara, has reported out for floor debates the bill that seeks to raise the tax exemption cap for 13th month pay and other benefits, which would increase the takehome pay of millions of Filipino workers.

Senate Bill 2437, which is a consolidation of five Senate bills authored by Senators Angara, Ralph Recto and Lito Lapid, intends to raise the ceiling of the tax exemption to P75,000.