Cops get mid-year bonus
NEARLY P7.55 billion has been released to pay for the mid-year bonus of members of the Philippine National Police starting today, PNP chief General Benjamin C. Acorda Jr. said yesterday.
According to the top cop, the PNP Finance Service has released funds totaling Php7,544,095,221.00 to pay for the mid-year bonus of 227,832 active duty PNP personnel.
The allocated funds are derived from the regular PNP appropriations included in this year’s budget, said PNP-FS director, Brigadier Gen. Bowenn Joey M. Masauding.
The mid-year bonus is a legislated provision in the annual General Appropriations Act that serves as an additional form of compensation for qualified personnel, the official added.
Brig. Gen. Masauding said that police personnel without pending administrative and criminal charges will receive their MYB for 2023 thru their ATM Payroll Accounts enrolled with the Land Bank of the Philippines.
The grant of MYB FY 2023 is subject to the guidelines in reference to Fiscal Directive No 2023-08 entitled, Payment of Mid-year Bonus for FY 2023 and years thereafter.” MYB is equivalent to a one-month basic salary.
Individual mid-year bonus exceeding P90,000.00 is subject to tax according to the Tax Reform for Acceleration and Inclusion (TRAIN) Law and BIR Regulations 11-2018.
Gen. Acorda reiterated the significance of this financial benefit which he said is part of their effort to further improve the morale and welfare of the police force.
