Compensation Income Defined

This Revenue Regulation issued on January 30, 2025 further amends the "De Minimis" benefits provisions of Revenue Regulations (RR) No. 2-98, as amended, increasing the Clothing Allowance pursuant to Republic Act No. 11975, the Fiscal Year 2024 General Appropriations Act, and Employees Achievement Awards. Section 2.78.1 of RR No. 92-98, as last amended by RR No. 11-2018, is further amended to read as follows: "SECTION 2.78.1. Withholding of Income Tax on Compensation Income.- (A) Compensation Income Defined. - xxx xxx                                       xxx      [...]