BusinessWorld4d
Non-taxability of employee de minimis benefits
Capping off the first month of 2025, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 004-2025 (RR No. 4-25), amending the rules on certain de minimis benefits. It increased ...
BusinessWorld4d
BIR rules P7,000 uniform allowance for gov’t employees not taxable
THE Bureau of Internal Revenue (BIR) has upheld the tax exemption on the P7,000 uniform or clothing allowance of government employees. “Pursuant to Sections 4 and 244 in relation to Section 33 of the ...
Sourcing Journal on MSN4mon
House Lawmakers Implore President Biden to Close the De Minimis Loophole
proposing that products from non-market economies and other countries of concern be excluded from de minimis benefits. "You ...
KALW1d
China no longer has a de minimis trade exemption. What is it?
The trade loophole is meant to ease small-scale sales — but critics say it's been abused and gives Chinese firms an unfair ...
the-future-of-commerce3d
De minimis loophole, maximum implications: Trump tariffs roil e-commerce market
The Trump tariffs include a provision to eliminate the de minimis trade exemption on small packages coming into the US worth ...
Hosted on MSN11mon
Senate Lawmakers Issue ‘Urgent Request' to President Biden to Close De Minimis ‘Loophole'
De minimis doesn't just provide foreign shippers with financial benefits, they argued-it also allows bad actors to circumvent customs enforcement, as individual packages of lower value often enter ...