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    Revenue Regulation 05-08

    Uploaded by

    Agnes Bianca Mendoza
    Further Amendments to Revenue Regulations Nos. 2-98 and 3-98, as Last Amended by Revenue Regulations No. 10-2000, with Respect to "De Minimis Benefits"

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    © All Rights Reserved
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    Revenue Regulation 05-08

    Uploaded by

    Agnes Bianca Mendoza
    29 views3 pages
    Further Amendments to Revenue Regulations Nos. 2-98 and 3-98, as Last Amended by Revenue Regulations No. 10-2000, with Respect to "De Minimis Benefits"

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    © © All Rights Reserved

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    Further Amendments to Revenue Regulations Nos. 2-98 and 3-98, as Last Amended by Revenue Regulations No. 10-2000, with Respect to "De Minimis Benefits"

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    29 views3 pages

    Revenue Regulation 05-08

    Uploaded by

    Agnes Bianca Mendoza
    Further Amendments to Revenue Regulations Nos. 2-98 and 3-98, as Last Amended by Revenue Regulations No. 10-2000, with Respect to "De Minimis Benefits"

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    April 17, 2008

    REVENUE REGULATIONS NO. 005-08


    SUBJECT
    :
    Further Amendments to Revenue Regulations Nos. 2-98
    and 3-98, as Last Amended by Revenue Regulations No. 10-2000, with
    Respect to "De Minimis Benefits"
    TO

    All Internal Revenue Officials and Others Concerned

    Pursuant to Sections 4 and 244 in relation to Section 33 of the Tax Code of


    1997, these Regulations are hereby promulgated to further amend Revenue
    Regulations (RR) Nos. 2-98 and 3-98, as last amended by RR No. 10-2000,
    with respect to "De Minimis" benefits which are exempt from income tax on
    compensation as well as from fringe benefit tax.
    SECTION 1. Section 2.78.1 (A) (3) (c) and (d) of RR 2-98, as last amended by
    RR 10-2000, is hereby further amended to read as follows:
    "Sec. 2.78.1 Withholding of Income Tax on Compensation Income.
    (A)

    ...

    (1)

    ...

    xxx
    (3)

    xxx

    xxx

    Facilities and privileges of relatively small value. . . .

    xxx

    xxx

    xxx

    The following shall be considered as "de minimis" benefits not subject to


    income tax as well as withholding tax on compensation income of both
    managerial and rank and file employees:
    (a)

    ...

    xxx

    xxx

    xxx

    (c)
    Rice subsidy of P1,500.00 or one (1) sack of 50 kg. rice per month
    amounting to not more than P1,500.00;
    (d)

    Uniform and Clothing allowance not exceeding P4,000.00 per annum;

    xxx

    xxx

    xxx

    SECTION 2. Section 2.33 (C) of RR 3-98, as last amended by RR 10-2000, is


    hereby further amended to read as follows:
    "Sec. 2.33.

    Special Treatment of Fringe Benefits.

    (A)

    Imposition of Fringe Benefits Tax . . .

    xxx
    (B)

    xxx

    xxx

    Definition of Fringe Benefit . . .

    xxx

    xxx

    xxx

    (C)
    Fringe Benefits Not Subject to Fringe Benefit Tax In general, the
    fringe benefit tax shall not be imposed on the following fringe benefits:
    xxx

    xxx

    xxx

    The term "DE MINIMIS" benefits which are exempt from the fringe benefit tax
    shall, in general, be limited to facilities or privileges furnished or offered by
    an employer to his employees that are of relatively small value and are
    offered or furnished by the employer merely as a means of promoting the
    health, goodwill, contentment, or efficiency of his employees such as the
    following:
    (a)

    ...

    xxx

    xxx

    xxx

    (c)
    Rice subsidy of P1,500.00 or one (1) sack of 50 kg. rice per month
    amounting to not more than P1,500.00;
    (d)
    Uniform and Clothing allowance not exceeding P4,000.00 per annum;
    SDATEc
    xxx

    xxx

    xxx"

    SECTION 3. Transitory Provisions. The benefits herein provided shall apply


    to income earned starting the year 2008.
    SECTION 4. Repealing Clause. All existing rules and regulations or parts
    thereof which are inconsistent with the provisions of these regulations are
    hereby revoked, repealed or modified accordingly.
    SECTION 5. Effectivity Clause. These Regulations shall take effect after
    fifteen (15) days following its publication in any newspaper of general
    circulation.
    (SGD.) MARGARITO B. TEVES
    Secretary
    Department of Finance

    Recommending Approval:
    (SGD.) LILIAN B. HEFTI
    Commissioner
    Bureau of Internal Revenue

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