Practice question
An employee receives several qualifying bonuses and 13th-month payments during one year. Explain the combined ceiling and why changing payment dates or employers does not by itself multiply it.
Legal references
- RA 10963, Sections 5 and 9, individual tax rules and NIRC Section 32(B)(7)(e): https://lawphil.net/statutes/repacts/ra2017/ra_10963_2017.html
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