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  • Revenue Regulations No. 8-2018 PDF

    Transféré par

    Bam Bathan
    3 vues27 pages

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    Revenue Regulations No. 8-2018.pdf

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    3 vues27 pages

    Revenue Regulations No. 8-2018 PDF

    Transféré par

    Bam Bathan

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme PDF ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 27
    ‘ome REC DEPARTMENT OF FINANCE 4G cexncty Janaary 25,2018, revenvr recutations no. 8-20/8 SUBJECT: Impkmenting the Income Tax Provisions of Republic Act No. 10863, Otherwise Known s the “Tax Reform for Acceleration and Inclusion (TRAIN) Act To _Alltnternat Revenue Officers and Other Concerned SECTION 1. SCOPE. ~ Pursuant to Section 244 of the National Intemal Revenue Code, 2s mended, ond Seetion 84 of Republic Act (R.A.) No, 10863 otherwise known as the “Tx Reform for Acceleration and lnchsion (TRAIN)” Law, these regulations ae, hereby promulgated to implementthe amended provisions on Tile Tl ~Tax on nome ofthe NIRC, SECTION 2, DEFINITION OF TERMS. ~ Words andor phrases used under these regulations shall mess ‘Compensation Inscine -in generl, means ll remuneration for services performed by sn employee for bis employer under an employeremployee relationship, unless specifically excudad by the Code “The name by which the remaneaton for services is designated is immateval. Thus, sales, wages, emoluments and hovoraia, allowances, commissions (eg. transportation, presentation, entertainment and the like), fees including director's fees, i the dvetr i atthe same time, an employes of the employesfeorporation, taxable bonuses and Binge benefits, excep those which are subject to the fringe benefits tix under Sec. 33 ofthe Code ad the allowable “de minimis" benefits, taxable pensions ad retirement pay and ater income ofa similar nature consi compensation income b. Compensition lnsome Eamers - individuals whose source of income is purely

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