An Act Excluding The Performance-Based Bonus From The Computation Of Taxable Income Amending For This Purpose Section 32 (B) (7) Of Republic Act No. 8424, Otherwise Known As The National Internal Revenue Code Of 1997, As Amended
- Performance-Based Bonus (PBB) a top-up bonus given to government personnel of Bureaus or Delivery Units in accordance with their contribution to the accomplishment of their Department’s over-all targets and commitments, as provided for in Executive Order No. 80, series of 2012.
- With the issuance of E.O. No. 201 on Feb. 19, 2016, the existing PBB granted to qualified government personnel, including those in LGUs shall be enhanced and given in an amount equivalent to one month basic salary up to two months basic salary, to be implemented in phases starting in FY 2017.
- To grant government employees full recognition and enjoyment of their exemplary performance, this Bill proposes to include the PBB among the types of compensation exempt from the computation of taxable income by amending for the purpose Section 32 (B) (7) of Republic Act No. 8424, otherwise known as the “National Internal Revenue Code of 1997”, as amended.
COMMENT : Off