Gift Checks – No Expiry Dates starting July 2012

Guidelines on the Issuance, Use and Redemption of Gift Checks, Certificates or Gift Cards in accordance with Republic Act No. 7394 or the Consumer Act of the Philippines, and for other Purposes Gift Check/ Certificate/ Card – an instrument issued by a supplier to an individual, partnership or a juridical entity for monetary consideration evidencing… Read More Gift Checks – No Expiry Dates starting July 2012

Allowances in excess of 30,000/yr. – TAXABLE

MANILA, Philippines – The Bureau of Internal Revenue (BIR) declared Wednesday that allowances and bonuses received by all officials and employees in government and the private sector are subject to income tax if the amount is in excess of P30,000 per year. “There is no exemption,” BIR Commissioner Kim S. Jacinto S. Henares stressed. The… Read More Allowances in excess of 30,000/yr. – TAXABLE

Bus Driver’s Minimum Wage starting February

Beginning February 1, bus drivers and conductors plying the NCR route will receive minimum wage and other mandatory benefits. DOLE’s Department Order No. 118-12 Series of 2012 mandates a fixed and performance based compensation scheme in the public bus transport industry, a novel scheme which drastically changes an age-old commission-based pay practice. According to Secretary Rosalinda Dimapilis-Baldoz, the fixed componentconsists of… Read More Bus Driver’s Minimum Wage starting February