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The Social Security System (SSS; Filipino: Paseguruhan ng mga Naglilingkod sa Pribado) [4] is a state-run social insurance program in the Philippines to workers in the private, professional and informal sectors. SSS is established by virtue of Republic Act No. 1161, better known as the Social Security Act of 1954.
Percentage tax is a business tax imposed on persons or entities/transactions: who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 3,000,000 ...
The prevailing labor code allows the typical working hour to be 8 hours a day, i.e. 48 hours a week with the provision that at least a day should be allowed to the workers as weekly off. [ 2 ] [ 3 ] The minimum age allowed for employment is considered 15 years in the Philippines, unless the individuals are working under direct supervision of ...
As you may have heard, Citibank messed up. Big time. It accidentally sent out more than 600,000 mailings to customers with their Social Security numbers printed on the outside of the envelopes.
The provisions on unemployment benefits were dropped when the legislation was amended in 1957 to prioritize retirement, sickness, disability and death benefits. [ 4 ] Under the 2018 legislation, the benefits are dispensed through a one-time payment to equal to 50 percent of the claimant's monthly salary for a maximum of two months.
With only six weeks left before 2025, now is the time to make essential year-end tax moves to maximize savings and avoid a large tax bill on April 15.
Even if you work for an employer and have taxes deducted from your paycheck, you can request that year-end bonuses be deferred until early 2023 if that’s something your employer does. 5. Donate ...
In financial accounting under International Financial Reporting Standards (IFRS), a provision is an account that records a present liability of an entity. The recording of the liability in the entity's balance sheet is matched to an appropriate expense account on the entity's income statement .