8box Solutions Inc.


Contact Number: 09369340340
Email: sales@8box.solutions

REVENUE REGULATIONS NO. 5-2008 issued on April 23, 2008 further amends Revenue Regulations (RR) Nos. 2-98 and 3-98, as last amended by RR No. 10-2000, with respect to “De Minimis Benefits”. Rice subsidy of P 1,500.00 or one (1) sack of 50 kg. rice per month amounting to not more than P 1,500.00 and uniform and clothing allowance not exceeding P 4,000.00 per annum are considered as “de minimis” benefits, which are not subject to the fringe benefit tax (per Section 2.33(C) of RR No. 3-98) and Income Tax as well as withholding tax on compensation income of both managerial and rank and file employees (per Section 2.78.1 (A)(3)(c) and (d) of RR No. 2-98). The benefits provided in the Regulations shall apply to income earned starting the year 2008.