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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 291 -
MONETIZATION OF LEAVE CREDITS OF GOVERNMENT OFFICIALS AND EMPLOYEES
WHEREAS,
the Government fully appreciates the valuable role of government
officials and employees in providing vital services to the population
at large;
WHEREAS, in recognition of this vital role, it is the policy of the
Government to continuously look for the welfare of government officials
and employees;
WHEREAS, pursuant to this policy, the Government deems it proper to
provide necessary additional funds to these officials and employees to
finance the education, health or other emergency expenses of these
officials and employees, or any member of their family by allowing them
to monetize a portion of their vacation/sick leave credits tax-free
pursuant to Memorandum Circular No. 31, s. 1991 implementing Joint
Civil Service Commission - Department of Budget and Management Circular
No. 1, s. 1991 as amended by Joint CSC-DBM Circular No. 2-97, s. of
1997;
WHEREAS, it has come to my attention that the Bureau of Internal
Revenue had issued various rulings on the taxability of monetized leave
credits, Sec. 2.78.1(A) (7), p. 24 of Revenue Regulation No. 2-98
dated April 17, 1998, being the latest, which rulings are in direct
contrast to the CSC intent when the policy on monetization of leave
credits tax-free was institutionalized in 1991 as per its Resolution
No. 992630 dated December 2, 1999;
WHEREAS, said rulings create confusion on the various government bodies
whether or not said monetized leave credits are subject to income tax
and withholding tax;
WHEREAS, said rulings have discouraged the application for monetization
of leave credits by many officials and employees despite
urgent/emergency needs;
WHEREAS, it is my concern and constitutional duty to be a watchman of
this problem and provide solution for the same;
NOW, THEREFORE, I, JOSEPH EJERCITO ESTRADA, President of the
Philippines, by virtue of the powers vested in me by the Constitution,
do hereby order and direct:
Section 1.
Sec. 2.
Sec. 3.
Sec. 4.
DONE in the City of Manila,
this 27th day of September, in the Year of Our Lord, Two Thousand.
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Since 19.07.98.