The Filipino tax authority has rescinded an announcement dating from 2018 (Revenue Memorandum Circular (RMC) No. 50-2018) that would have required group health insurance premiums to be taxed as compensation.
RMC No. 96-2018 — issued 26 Nov 2018 — confirmed that “…the implementation of the pertinent provisions under RMC No. 50-2018 relative to the group health insurance premiums (Q7/A7) and director’s fees (Q34/A34) … are hereby deleted from RMC 50-2018.”
- RMC No. 96-2018 (Filipino Government, 26 Nov 2018)