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December 15
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» LBPEA NEB ATTENDS APPRECIATIVE LEADERSHIP SEMINAR
Taxation of Leave Monetization Icon_minitime1Thu Nov 23, 2017 10:36 am by sonia

» HMO ENROLLMENT FOR 2018
Taxation of Leave Monetization Icon_minitime1Wed Nov 22, 2017 9:24 am by sonia

» A message from LBPEA Visayas Director SONIA D. BROTARLO
Taxation of Leave Monetization Icon_minitime1Thu Nov 16, 2017 10:30 am by sonia

A message from LBPEA Visayas Director SONIA D. BROTARLO
Taxation of Leave Monetization Icon_minitime1Thu Nov 16, 2017 10:30 am by sonia
Taxation of Leave Monetization Sonia10

It has been two (2) years and six (6) months that this website was closed.  Many were disappointed with the closure but we have to keep up with the fast changing technology - facebook and twitter, among others.  
 
With the remaining one month and a half of my stint as Director for Visayas, I have been ruminative as to the manner of my “consummatum est” in LBPEA.  Thus  here I am re-opening the website pro hac vice for my grand exit. 
 
This is the medium where you first knew me and this is where I want to personally reach out to you to express my deepest and heartfelt “THANK YOU” for all the years that you trusted me. 
 


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aquariusmart130



Number of posts : 28
Registration date : 2011-05-07

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PostSubject: Taxation of Leave Monetization   Taxation of Leave Monetization Icon_minitime1Fri Oct 05, 2012 10:14 am

How true is the rumor that leave monetization will soon be subjected to taxation? LBPEA officers please if you could do representation to enable those that have substantial leave credits can monetize before it will be taxable. Thank you and more power.
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batman_E289

batman_E289

Number of posts : 544
Age : 42
Registration date : 2010-10-28

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PostSubject: Re: Taxation of Leave Monetization   Taxation of Leave Monetization Icon_minitime1Fri Oct 05, 2012 11:20 am

the rumor was already discussed with MGT and they are checking if its true. counter measures are being studied in case na totoo nga po ito.
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alut5724



Number of posts : 155
Age : 57
Registration date : 2011-06-14

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PostSubject: Re: Taxation of Leave Monetization   Taxation of Leave Monetization Icon_minitime1Fri Oct 05, 2012 7:59 pm

If in case, dapat pala babaan yung maintaining balance na forty day kahit sa twenty days na lang kasi sayang yung net of tax na lang pala ang matatanggap..and to think na malaki ang tax pag single or head of the family...
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ChrysChaps

ChrysChaps

Number of posts : 30
Age : 39
Registration date : 2011-07-11

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PostSubject: Re: Taxation of Leave Monetization   Taxation of Leave Monetization Icon_minitime1Mon Dec 10, 2012 1:49 pm

ano na po ba ang update dito sir/maam?
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sonia
Admin


Number of posts : 1428
Registration date : 2008-12-16

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PostSubject: Re: Taxation of Leave Monetization   Taxation of Leave Monetization Icon_minitime1Mon Dec 10, 2012 2:34 pm

for Chryschaprs: I hope this will answer your query.

semaj501 wrote:
EO No. 291 dated Sept. 27, 2000 is the governing rule on monetization of leave credits of gov't. employees/officials. In Sec. 1, its states that the monetized leave credits of government officials and employees shall continue to be exempted from income tax.

Equally important is the issue on Terminal Leave Pay. Jurisprudence indicates that terminal leave pay received by a government official or employee is not subject to withholding (income) tax ... Terminal leave payments are given not only at the same time but also for same policy considerations governing retirement benefits (CIR Vs CA and Castañeda). Note that retirement benefits are not subject to tax.

Thanks to the brilliant lawyer from Tuguegarao- Atty. Semaj501 for his informative contribution. Hopefully, this will subdue the panic mode on monetization of leave credits and will satisfy the endless query.
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PostSubject: Re: Taxation of Leave Monetization   Taxation of Leave Monetization Icon_minitime1

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