The Congress declared the year-end bonus as non-taxable with the Income Tax up to an amount of one thousand five hundred dollars (USD$ 1,500.00).
On November 26th, 2024, in plenary session, the Congress approved the transitory decree that declares as a non-taxable income, and consequently not subject to the Income Tax, the year-end bonus received by employees up to one thousand five hundred dollars (USD$ 1,500.00).
Year-end bonuses exceeding one thousand five hundred dollars (USD $1,500.00) will be subject to the withholding and payment of Income Tax on the portion that exceeds such amount.
This legislative decree is pending publication in the Official Gazette, at which time it will enter into force.
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