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Tag: Floredee T. Odulio

Substance over new BIR Form

It’s been more than a year since the effectivity of the Tax Reform for Acceleration and Inclusion (TRAIN) Act, but the effects of its implementation are far from over. Just this year, the Bureau of Internal Revenue (BIR) released the following BIR Forms, labeled as January 2018 versions:

Premiums on health care are taxable, now what?

Following the issuance of RMC 50-2018, the Bureau of Internal Revenue (BIR) clarified that premiums on health care paid by an employer for all employees, whether holding rank and file or managerial/supervisory positions, under a group insurance plan shall be included as part of other benefits of these employees subject to the P90,000 exemption threshold.

House Bill No. 5636 vs Senate Bill No. 1592: Which is...

On Sept. 20, the Senate Committee on Ways and Means filed its version of the Tax Reform for Acceleration and Inclusion (TRAIN) bill. There...