The Bureau of Internal Revenue (BIR) has placed under income tax coverage extra contributions made by government and private workers to various state-owned insurance firms such as the Social Security System (SSS), the Government Service Insurance System (GSIS), Philippine Health Insurance Corporation, and Pag-IBIG.BIR Commissioner Kim S. Jacinto Henares issued Revenue Memorandum Circular (RMC) No. 27-2011 plugging the loopholes in earlier revenue issuances granting full tax exemptions to all kinds of contributions to these entities.
READ FULL STORY
0 comments:
Post a Comment