|
Particulars
|
No. of Accounts |
|
|
PCOs |
NUPs |
|
|
Year-End Tax Adjustment |
15,332 |
225 |
NOTICE/ADVISORY
References:
- T.R.A.I.N Law (Republic Act No. 10963); and
- BIR Revenue Regulations 8-2018 and 11-2018.
- The 13th Month Pay and other Bonus (Mid-Year and Year-End Bonuses) exceeding Php 90,000.00 are taxable. Hence, are subjected for the year-end tax adjustments, in accordance to the BIR mandate on “tax due equals tax withheld.”
- All PCOs are affected.
- NUP with Salary Grade 18 Step 1 and above are affected.
- All affected PNP personnel who reached the Minimum Net Take Home Pay are advised to settle thru Over-The-Counter payment scheme their underpaid loans/s for November and December 2022 to avoid incurring penalties and other charges.
- Regular monthly withholding tax deductions will resume starting pay period January 2023.