Tax Exemption for Social Security and Retirement Benefits

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PRESIDENTIAL DECREE NO. 220: Tax Exemption for Social Security and Retirement Benefits

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Title Supreme Court: Tax Exemption for Social Security and Retirement Benefits

Law: Presidential Decree No. 220

Decision Date: Jun 20, 1973

Presidential Decree No. 220, issued by President Ferdinand Marcos in 1973, exempts social security benefits, retirement gratuities, pensions, and similar benefits from income tax payment for retiring employees and workers, regardless of whether the benefits are received from Philippine or foreign government agencies or private or public institutions.

exemption

social security benefits

retirement gratuities

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