Tax Update 4 [Revenue Regulations (RR) No. 4-2025 dated 30 January 2025]

Amends RR No. 2-98 to increase the clothing allowance under RA 11975 (FY 2024 GAA) and update de minimis benefits for employee awards.

Further amending the “De Minimis” benefits provisions of RR No. 2-98, as amended, increasing the Clothing Allowance pursuant to RA No. 11975, the Fiscal Year 2024 General Appropriations Act, and Employees Achievement Awards.

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Founded in the heart of Davao City in 2020, Davao Accountants is a boutique corporate solutions firm dedicated to providing exceptional professional services tailored to the unique needs of our clients. Our boutique approach allows us to offer a personalized touch and a higher level of attention to detail that larger firms often overlook.