The Revenue Regulations No. 1-2015 was issued by the bureau to further amend RR No. 2-8, as last amended by RR Nos. 5-2008, 5-2011 and 8-2012 with respect to "De Minimis" benefits which are exempt from income tax on compensation as well as from fringe benefit tax.
In Section 2.78.1 (A) (3) of rr 2-98, as last amended by RR 8-2012 is further amend as follows:
(3) Facilities and privileges of relatively small value. -
(k) Benefits received by an employee by virtue of a collective bargaining agreement (CBA) and productivity incentive schemes provided that the total annual monetary value received from both CBA and productivity incentive schemes combined do not exceed ten thousand (Php 10,000.00) per employee per taxable year;
Sec. 2.33 Special Treatment of Fringe Benefits. - (C)
(k) Benefits receives by an employee by virtue of a collective bargaining agreement (CBA) and productivity incentive schemes provided that the total annual monetary value received from both CBA and productivity incentive schemes combined, do not exceed ten thousand pesos (Php 10,000.00) per employee per taxable year;
These Regulations shall take effect immediately upon publication.
Here's the link of the last amended revenue regulaitons related to De Minimis Benefits http://philippinetaxtalk.blogspot.com/2013/12/de-minimis-benefits-as-per-revenue.html
Please refer http://www.bir.gov.ph/images/bir_files/internal_communications_1/Full%20Text%20RR%202015/RR%201-2015%202.pdf of the full text of Revenue Regulations 1-2015.
