Higher tax-exempt bonuses seen

Senate President Franklin Drilon INQUIRER FILE PHOTO

MANILA, Philippines–It may be a merrier Christmas for many workers this year.

The Senate plans to approve before the end of the year the bill that will allow workers to take home bigger bonuses, according to Senate President Franklin Drilon.

Drilon said both houses of Congress had agreed that the measure increasing to P75,000 from P30,000 the ceiling for tax exempt bonuses should be approved within the year.

The House of Representatives approved its version on third reading last month, setting the ceiling at P70,000.

“This bill has already the lawmakers’ thumbs up so it’s possible that we can pass it this year,” said Drilon.

Once it is referred to the floor, he will calendar it for debates immediately, he added.

The Senate ways and means committee expects to submit the bill to the plenary soon, according to its chair, Sen. Sonny Angara.

Angara said he has begun circulating the committee report for the signature of members. Once the required number of signatures has been gathered, the measure will be forwarded to the floor.

“Hopefully, we can sponsor the measure within the next few days,” he said.