Everything We Need to Know About 13th Month Pay

Now that the holiday season is fast approaching, most, if not all, employees are once again eagerly awaiting the release of abundant financial blessings from their respective companies and employers.  One of the most awaited windfall is the government-mandated 13th month pay to be released to all employees, regardless of their designation or employment statusContinue reading “Everything We Need to Know About 13th Month Pay”

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One Year Later: Government to Reform Income Tax Packages for 13th Month Pay

One of the best news of 2015 was the higher tax exemption for 13th month pay and other bonuses for income accrued beginning January 1, 2015.  The government raised the income ceiling to Php 82,000.00 giving employees from the private sectors and the government more room to enjoy their full one-month salary, incentives, and bonusesContinue reading “One Year Later: Government to Reform Income Tax Packages for 13th Month Pay”

Something to Look Forward to: BOC to Implement Higher Tax Exemptions on Balikbayan Boxes!

Good news to Balikbayans, OFWs, and tourists! The Bureau of Customs (BOC) is set to implement higher tax exemptions for Balikbayan boxes brought in by Pinoys and tourists, starting December 2016.  As a matter of fact, as early as October 2016, the BOC will no longer impose taxes on hand-carried pasalubong items not exceeding PhpContinue reading “Something to Look Forward to: BOC to Implement Higher Tax Exemptions on Balikbayan Boxes!”