BusinessWorld5d
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 ...
BusinessWorld5d
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 ...
Jefferson Public Radio2d
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 ...
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 ...