Summary
RMC No. 20-2011 clarifies the special treatment of fringe benefits under Section 2.33 of RR No. 3-98, as last amended by RR No. 5-2011.
Key points
- Meaning of the tax references. The Income Tax and Withholding Tax on compensation income referred to in Section 2 of RR No. 5-2011 refers to Fringe Benefits Tax.
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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