Revocation of tax exemption on excess contributions

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BIR REVENUE MEMORANDUM CIRCULAR NO. 27-11: Revocation of tax exemption on excess contributions

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Title Supreme Court: Revocation of tax exemption on excess contributions

Law: Bir Revenue Memorandum Circular No. 27-11

Decision Date: Jul 1, 2011

The Bureau of Internal Revenue revokes previous rulings to clarify that only mandatory contributions to SSS, GSIS, PHIC, and Pag-ibig are exempt from income tax, disallowing exemptions for voluntary contributions to prevent abuse and ensure compliance.

revocation

tax exemption

income tax

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