What is a “reasonable private benefit plan” for tax purposes?
Under the Tax Code referenced in the Labor Code of the Philippines, it requires a very specific definition. It strictly means a pension or profit-sharing plan where the employer contributes. The strict purpose must be actively distributing accumulated earnings exclusively to employees. No part of the fund’s corpus can ever be legally diverted elsewhere. 18-May-26About Nicolas and De Vega Law Offices
Nicolas and De Vega Law Offices is a full-service law firm in the Philippines. You may visit us at the 16th Flr., Suite 1607 AIC Burgundy Empire Tower, ADB Ave., Ortigas Center, 1605 Pasig City, Metro Manila, Philippines. You may also call us at +632 84706126, +632 84706130, +632 84016392 or e-mail us at [email protected]. Visit our website https://ndvlaw.com/.
