Is SRI 2024 Taxable?
The Service Recognition Incentive (SRI) for 2024 is a ₱20,000 bonus for eligible government employees in the Philippines. While it’s a well-deserved reward, it’s important to know that the SRI is taxable if your total annual bonuses exceed the ₱90,000 tax-exempt limit. For most employees, the SRI will remain tax-free, but any amount above this threshold will be subject to income tax. The incentive will start being distributed on December 20, 2024. Stay informed to make the most of your benefits!