P40b yearend bonus, P5000 cash ready for release to gov't employees: DBM
The Duterte administration is ready to release nearly P40 billion for the year-end bonus and P5,000 cash gift for over a million qualified employees of the national government starting this month, the Department of Budget and Management (DBM) said on Wednesday.
In a press conference in Pasig City, Budget Secretary Benjamin Diokno said beginning November 15, all qualified government employees will receive year-end bonus tax free that is equivalent to their one month basic salary, and a cash gift of P5,000.
He said the release is subject to the guidelines issued by the DBM under budget circular no. 2016-4.
"Under the 2017 budget, the DBM had allocated P32.84 billion for year-end bonuses and P6.93 billion for cash gifts," Diokno said.
According to the DBM, there were 1.38 million estimated employees from the national government.
Government-owned and controlled corporations and government financial institutions may grant year-end bonus and cash gift, charged to their corporate funds.
Local government units could also do the same and charged to their own budget, the DBM said. Celerina Monte/DMS