FAQ on the Tax Exemption of Retirement Benefits Under the Bayanihan Act 2 (BIR Revenue Regulations No. 29-2020)

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1. Our company already has a BIR approved Retirement Plan; thus, retirement benefits are already tax exempt based on RA 4917. What are the advantages of the Bayanihan Act II? Under RA 4917, only employees who are at least 50 years of age with at least 10 years of service upon retirement will be able to […]