MANILA, Philippines — The Bureau of Internal Revenue (BIR) stood firm Wednesday on its decision to tax extra or voluntary contributions made by government and private employees to state pension and insurance firms like the Pag-IBIG, Social Security System, Government Service Insurance Corporations and PhilHealth despite strong opposition from members of Congress and other sectors.
“We will come out with another circular reiterating the impositions of the tax under Revenue Memorandum Circular (RMC) No. 53-2011,” said Jethro Sabariaga, chief of staff for legal matters of BIR Commissioner Kim S. Jacinto-Henares.
He said that, contrary to news reports, overseas Filipino workers and minimum wage earners like household help are not covered by the circular as these groups of taxpayers are exempted from taxation under the Tax Code.
“They can put all their earnings in the said insurance companies and they will not be taxed,” he said.
Earlier, Henares said that mandatory contributions are still exempted from income taxation under the memorandum.
Covered by RMC 53-2011 are extra contributions which are considered investments, she said.
The BIR came out with the RMC last July after noting that insurance companies have come out with various projects encouraging their members to increase their monthly contributions to hike their pensions when they retire and upgrade their health care coverage. –JUN RAMIREZ, Manila Bulletin
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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