Bill Type
Congress Name
Long Title
AN ACT EXEMPTING FROM TAX OVERTIME PAY OF WORKERS
Date filed
September 24, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 3205, 12th Congress of the Republic | |
| FULL TITLE : AN ACT EXEMPTING FROM TAX OVERTIME PAY OF WORKERS | |
| ABSTRACT : "Tax Exemption of Overtime Pay Act of 2001". Overtime pay received by workers from their employers shall not be included in gross income and shall be exempt from all forms of tax. > Instead of taking away from every worker a portion of his overtimepay through taxation, it is better for him to take it home ans spend it for his family's basic needs. It is also a good form of incentive since during an overtime a worker us made to work longer than his usual hours. | |
| PRINCIPAL AUTHOR/S : ANDAYA, ROLANDO JR. G. | |
| DATE FILED : 2001-09-24 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Espino (035 ) | 2. Chipeco (040 ) |
| 3. Espina (040 ) | 4. Syjuco (057 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2001-09-27 |
Abstract
"Tax Exemption of Overtime Pay Act of 2001". Overtime pay received by workers from their employers shall not be included in gross income and shall be exempt from all forms of tax. > Instead of taking away from every worker a portion of his overtimepay through taxation, it is better for him to take it home ans spend it for his family's basic needs. It is also a good form of incentive since during an overtime a worker us made to work longer than his usual hours.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.