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Republic Act No. 10653

AN ACT ADJUSTING THE 13TH MONTH PAY AND OTHER BENEFITS CEILING EXCLUDED FROM THE COMPUTATION OF GROSS INCOME FOR PURPOSES OF INCOME TAXATION, AMENDING FOR THE PURPOSE SECTION 32(B), CHAPTER VI OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED

R.A. No. 10653 | 2015-02-12

Republic of the Philippines
Congress of the Philippines
Metro Manila
 
Sixteenth Congress
Second Regular Session
 
Begun and held in Metro Manila, on Monday, the twenty-eighth day of July, two thousand fourteen.
 
REPUBLIC ACT NO. 10653
 
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
 
SECTION 1. Section 32(B), Chapter VI of the National Internal Revenue Code of the Philippines (Republic Act No. 8424) is hereby amended as follows:
 
“SEC. 32. Gross Income. —
“x x x
“(B) Exclusions from Gross Income. — The following items shall not be included in...