TAX EXEMPTION

BIR INCREASES DE MINIMIS BENEFIT CEILINGS: REVENUE REGULATIONS NO. 29-2025

TAXATION, Legal Updates, TAX EXEMPTION / By

The Bureau of Internal Revenue (BIR) has issued Revenue Regulations (RR) No. 29-2025, dated 27 October 2025 and posted on the BIR website on 22 December 2025, increasing the allowable ceilings for De Minimis benefits granted to employees. De Minimis benefits are employee benefits that are exempt from income tax and withholding tax on compensation, …

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Supreme Court Affirms: Foreign Currency Deposits Exempt from Estate Tax

Legal Updates, Compliance, Corporate, TAX EXEMPTION, TAXATION / By

Tax exemptions, being in derogation of the State’s inherent power to tax, are strictly construed against the taxpayer. Thus, when one is upheld, it is not merely a legal triumph — it is a cause for celebration. In G.R. No. 262092 (October 9, 2024), the Supreme Court ruled that a foreign currency deposit — specifically an HSBC …

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