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BIR Revenue Regulations on Optional Standard Deduction

Bir Revenue Regulations No. 16-2008 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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