BIR Ruling No. 625-2017

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

Certificate of Tax Exemption No.

625-2C 17

CERTIFICATE OF TAX EXEMPTION

issued to

ROWENA L. CATALYA Cebu City

City, Taguig City has proven to have been separated from the service of the employer because of received by the above-named taxpayer or by her heirs from the employer as a consequence of separation from the service of the employer regardless of age or length of service, shali be exciuded tax as prescribed by Section 79 of the 1997 Tax Code, as implemented by Revenue Regulations No. 2-98. as amended by Revenue Regulations No. 6-2001 and 12-2001. CORPORATION, with principal office address at NAC Tower, 32nd St., Bonifacio Global REDUNDANCY. a cause beyond the control of the affected employee, hence. the amount from her gross income and shall be exempt from taxation pursuant to Section 32(B)(6)(b) of the 1 997 Tax Code. as amended. Likewise, the separation henefits shall be exempted from withholding This certifies that the above-named taxpayer, employed with ABOITIZ_POWER

the cash equivalent of vacation leave exceeding ten (10) days is subject to tax. However. this same be able to avail of said leave credits. commutation and payment of monetized unused vacation leave credits not exceeding ten (10) days during the year are not subject to income tax and consequently to the withholding tax. Conversely. principle cannot apply to SICK leave credits since an employee must actually go on sick leave to Moreover. pursuant to Section 2.78.1(A)(7) of RR 2-98, as amended, the terminal pay, i.e..

separated employees' saiaries and the payment of the 13th month pay and other bencfits in cxcess of the Php82.000.00 threshold under Section 2.78.1 (A)(3)(a) and (A)(7) of RR 2-98, as amended. It is, howevcr, undecrstood that this exemption does not include the payment of the

as represented and submitted. However, if upon investigation, the BIR ascertains that thc facts are different. then this Certificate shall be considered null and void This Certificate of Tax Exemption is being issued on the basis of the facts and documents

Issued this day of DEC 1 8 2017

AM O

K-i-RFR Commissioner of Internal Revenue CAESAR R. DULAY 011767

1 as amended by Revenue Regulations No. 3-2015 dated March 13, 2015