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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.
Interest income from a depository bank under the expanded foreign currency deposit system is taxed at the rate of 15%. [3] Income from long-term deposits and investments, when pre-terminated in less than three years after making such deposit or investment, is taxed at the rate of 20%; less than four years, 12%; and, less than five years, 5%. [2]
Flat tax of 8% on gross sales or gross revenues in lieu of percentage tax and personal income tax. [25] "TRAIN aims to clean up the VAT system to make it fairer and simpler and lower the cost of compliance for both the taxpayers and tax administrators". [25] As such, VAT exemptions are now only limited to health, education and raw agriculture food.
The Philippine Statistics Authority recorded a total of 1.443 million people in the Philippines (1.57% of the total population) has disability as of 2010 and categorized them according to age group, gender, and region. [2]
The Labor Code and other legislated labor laws are implemented primarily by government agencies, namely, Department of Labor and Employment and Philippine Overseas Employment Agency (now the country's Department of Migrant Workers). Non-government entities, such as the trade unions and employers, also play a role in the country's labor.
Means-tested benefits, financial assistance provided for those who are unable to cover basic needs, such as food, clothing and housing, due to poverty or lack of income because of unemployment, sickness, disability, or caring for children. While assistance is often in the form of financial payments, those eligible for social welfare can usually ...
The Philippines' National Council on Disability Affairs (NCDA) (formerly National Council for the Welfare of Disabled Persons or NCWDP) is the national government agency mandated to formulate policies and coordinate the activities of all agencies, whether public or private, concerning disability issues and concerns. As such, the NCWDP is the ...
According to Republic Act No. 1161, as amended by Republic Act No. 8282, "The Social Security Program provides a package of benefits in the event of death, disability, sickness, maternity, and old age. Basically, the Social Security System (SSS) provides for a replacement of income lost on account of the aforementioned contingencies."