The Philippine Department of Finance (DOF) has announced a proposal with the Bureau of Internal Revenue (BIR) to increase the ceilings for tax-exempt benefits for both private and public sector workers. This includes the following:
- Monetized unused vacation leave credits for private employees: Increased from 10 days to 12 days;
- Medical cash allowance for dependents: Increased from PHP 1,500 per semester to PHP 2,000 per semester;
- Rice subsidies: Increased from PHP 2,000 per month to PHP 2,5…