BIR Revenue Regulations on Optional Standard Deduction

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BIR REVENUE REGULATIONS NO. 16-2008: BIR Revenue Regulations on Optional Standard Deduction

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Title Supreme Court: BIR Revenue Regulations on Optional Standard Deduction

Law: Bir Revenue Regulations No. 16-2008

Decision Date: Nov 26, 2008

BIR Revenue Regulations No. 16-2008 establishes the Optional Standard Deduction (OSD) for individuals and corporations, allowing a maximum deduction of 40% of gross sales or gross income to simplify tax computations and provide an alternative to itemized deductions.

tax code

optional standard

deduction

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