Further Amending the “De Minimis” Benefits Provisions of Revenue Regulations No. 2-98, as Amended, Increasing the Clothing Allowance pursuant to Republic Act No. 11975, the Fiscal Year 2024 General Appropriations Act, and Employees Achievement Awards
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 RR Nos. 2-98, as amended, with respect to “De Minimis” benefits which are exempt from income tax on compensation as well as from income tax on compensation a well as from fringe benefit tax in relation to the implementation of Republic Act No. 1146.
Section 1. Section 2.78.1 of RR No. 2-98, as last amended by RR No. 11-2018, is hereby further amended to read as follows:
“Section 2.78.1. Withholding of Income Tax on Compensation Income
Section 2. Repealing Clause – All existing rules and regulations and other issuances or parts thereof which are inconsistent with the provisions of these Regulations are hereby amended, modified or repealed accordingly.
Section 3. Effectivity – These Regulations shall take effect after fifteen (15) days following its publication in the Official Gazette or in the BIR Official Website, whichever comes first.
Republic Act No. 12079
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