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Thursday, March 08, 2018

Is P100-200 Cash Subsidy For Minimum Wage Earners Enough?

Most of the minimum wage earners are directly affected by recently imposed Tax Reform for Acceleration and Inclusion (TRAIN) law. In this regard, the government has a proposal to give P100-200 subsidy to them to ease the burden but is it enough? The irony is that even there is a minimum wage set for local workers, there are still companies and establishments who are not faithfully giving the appropriate wage. What about them?
Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) said that the proposed P100 -200 would not be enough to ease the effect of the price hike to the workers.

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Department of Labor and Employment (DOLE) is mulling for a proposal to give P100-200 monthly subsidy for local workers who are earning a minimum wage as an assistance to the anticipated effect of the newly implemented Tax Reform for Acceleration and Inclusion (TRAIN) law.

Labor Secretary Silvestre Bello III, said that the government cannot sustain the P500 monthly subsidy earlier demanded by the labor groups.

Most of the minimum wage earners are directly affected by the tax reform law known as Tax Reform For Acceleration and Inclusion (TRAIN) law. In this regard, the government has a proposal to give P100-200 subsidy for the minimum wage earners to ease the burden but is it enough? The irony is that even there is a minimum wage set for local workers, there are still companies and establishments who are not faithfully giving the appropriate wage. What about them? Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) said that the proposed P100 -200 would not be enough to ease the effect of the price hike to the workers. Advertisement Sponsored Links Department of Labor and Employment (DOLE) is mulling for a proposal to give P100-200 monthly subsidy for local workers who are earning a minimum wage as an assistance to the anticipated effect of the newly implemented Tax Reform for Acceleration and Inclusion (TRAIN) law. Labor Secretary Silvestre Bello III, said that the government cannot sustain the P500 monthly subsidy earlier demanded by the labor groups. Even if the minimum wage earner got higher takehome pay after the implementation of the TRAIN law, there are still no increase in what they can get due to price hike of basic commodities. Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) said that the proposed P100 -200 would not be enough to lighten the burden of common laborers. ALU-TUCP is hoping that President Rodrigo Duterte would see the importance of giving subsidy to the minimum wage earners. Tanjusay said that if the laborers are neglected, the support of the public to the president may weaken. Economic managers and labor groups are set to have a meeting on March 15 with President Duterte. Read More: Former Executive Secretary Worked As a Domestic Worker In Hong Kong Due To Inadequate Salary In PH Beware Of Fake Online Registration System Which Collects $10 From OFWs— POEA Is It True, Duterte Might Expand Overseas Workers Deployment Ban To Countries With Many Cases of Abuse? Do You Agree With The Proposed Filipino Deployment Ban To Abusive Host Countries? ©2018 THOUGHTSKOTO www.jbsolis.com

Even if the minimum wage earner got higher takehome pay after the implementation of the TRAIN law, there are still no increase in what they can get due to price hike of basic commodities.

Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) said that the proposed P100 -200 would not be enough to lighten the burden of common laborers.

ALU-TUCP is hoping that President Rodrigo Duterte would see the importance of giving subsidy to the minimum wage earners.
Tanjusay said that if the laborers are neglected, the support of the public to the president may weaken.

Economic managers and labor groups are set to have a meeting on March 15 with President Duterte.

Beware Of Fake Online Registration System Which Collects $10 From OFWs— POEA

Is It True, Duterte Might Expand Overseas Workers Deployment Ban To Countries With Many Cases of Abuse?

Do You Agree With The Proposed Filipino Deployment Ban To Abusive Host Countries?

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Wednesday, December 20, 2017

10 Million Poor Pinoy Households to Get P200/Month Under TRAIN

Starting next year with the implementation of Tax Reform for Acceleration and Inclusion (TRAIN), 10 million poorest households will get P200.

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He said this is government mitigation because poorest household will need some kind of assistance as a result of TRAIN. Roque said the P200 per month is a dole out that will cover the increases.

"Many of the new excise taxes would not really amount too much because really, the amount of taxes that you pay is dependent on your consumption as well and if you are marginalized, the consumption is very low," he said.

Read: Your Income Tax May Soon Be Lower or Even 0% - See Duterte's Tax Reform Program

In a statement, Workers’ group Associated Labor Unions-Trade Union Congress of the Philippines said that around 15.6 million most vulnerable underground economy workers would suffer more once the TRAIN would be approved and implemented in 2018.

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Wednesday, December 13, 2017

Lower Income Tax, Higher Taxes On Sugar, Petroleum, Tobacco Products By 2018.

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qThe consolidated TRAIN bill also provided for a four-tier tax scheme, to accommodate the around 80 percent of Filipino households who do not own cars.

Electric vehicles will be exempted from tax while hybrid cars will be taxed at 50% rates, to encourage greener and cleaner transportation. Pick-up trucks will also be exempted, as the bill notes they are commonly used by businessmen and entrepreneurs for commercial and agricultural purposes.

The bill will also increase coal excise tax from ₱10 per metric ton to ₱150 per metric ton in a span of three years. The increase will be in increments of ₱50, starting from ₱50 in 2018.

The excise tax rates for all non-metallic minerals and quarry resources, and all metallic minerals were also raised from the current two percent to four percent.
Sugar, tobacco, and cosmetic taxes

The consolidated TRAIN bill imposed a tax of ₱6/liter for beverages using caloric and non-caloric sweeteners, and ₱12/liter for beverages using high fructose corn syrup.

However, all milk and coffee products are exempted from sugar tax, as well as natural fruit and vegetable juices and meal replacements. Medically-indicated beverages will also be exempted from taxes.

Meanwhile, tobacco excise taxes will be raised in phases at ₱2.50 every year—starting at ₱32.50 next year.

Cosmetic surgeries and enhancements for aesthetic reasons will also be subjected to 5% excise tax, which was down from the proposed 20 percent.

The TRAIN bill, however, exempts small businesses with total annual sales of ₱3 million and below from VAT. This, as small and micro businesses represent 98 percent of all registered businesses in the country.

VAT exemptions for raw food or agricultural products, health and education, as well as of senior citizens, Persons with Disability (PWDs), business process outsourcing (BPOs), and cooperatives will be retained.

The sale of prescription drugs and medicines prescribed for diabetes, high cholesterol, and hypertension will be free of VAT starting 2019.

Source: CNN

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Wednesday, October 04, 2017

Are You an SSS Member? Your Contribution is Set To Increase in 2018

SSS President and Chief Executive Officer Emmanuel Dooc said the increase in member's contribution will start next year. This is after it gets the needed amendments to its charter, in time for the implementation of the Tax Reform for Acceleration and Inclusion Act (TRAIN). A bill seeking to amend the SSS Charter, as provided in Republic Act 1161 or the Social Security Act, is currently being deliberated in the Senate. The TRAIN bill is also being discussed in the Senate. Dooc further explained that there are provisions in the new SSS bill that will empower the state fund to increase its members' contribution.

Social Security System (SSS) members will embrace 2018 with an increase in its contribution.

If remembered, this year 2017, president Rodrigo Duterte granted a P1,000 increase to its pensioners.

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He, however, declined to give the new rate of the increase to be imposed in 2018.

It was last January when the increase in members contribution was announced together with the approval of the president of a P1,000 pension hike for retired SSS members.

Dooc maintained that additional contribution is needed to keep the state fund running even with the pension increase.

Read: SSS CONTRIBUTION PROPOSE TO BE MANDATORY FOR OFWs

Under the original proposal, the premium hike of active SSS members will be implemented in tranches until 2022, starting with a 1.5 percent increase in May this year. The SSS earlier said members’ premium could go up to 17 percent from the current 11 percent until 2022.

The maximum salary credit was also supposed to be increased to P20,000 from P16,000 last May.

Dooc added the premium hike would help extend the life of the pension fund up to 2051 from the current actuarial life of until 2042.

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Saturday, July 22, 2017

OFW Remittance Will Not Be Taxed Under Duterte's Tax Reform Plan

If you are an OFW, or your family relies on OFW remittance, then here's some good news for you! If you are aware of President Duterte's Tax Reform Plan, many OFWs were wondering if their remittances are going to be taxed as some people have speculated on social media. The good news is that Finance Undersecretary Karl Kendrick Chua has confirmed that the proposed Comprehensive Tax Reform Program (CTRP) does not cover remittances from Overseas Filipino Workers since these are money coming from outside the country.

Simply put, the Philippine government has no jurisdiction over such inbound funds. Just to clarify, the laws apply only to remittances sent from within the country and, even then, the principal amount itself is not taxed. Only the domestic remittance fees are being charged with value-added tax (VAT).

Economists agree, that the continuing growth of OFW remittances, as well as the local BPO Industry, are a big help in achieving the 6-7% target growth of the Philippines' GDP. Last year, overseas Filipino workers had remitted a total of $28 Billion. Remittances came mainly from the United States, Saudi Arabia, the United Arab Emirates and Singapore.

Finance Secretary Carlos Dominguez III said the CTRP was expected to help reduce the poverty rate in the Philippines from 21.6 percent in 2015 to 14 percent by 2022.

Dominguez said that meant lifting some six million Filipinos out of poverty and helping the country achieve upper middle-income status.

source: Inquirer

How Much Will You Save Under President Duterte's Tax Reform Program?

TRAIN: Tax Reform Acceleration and Inclusion. This is a Tax Reform program initiated by the Duterte Administration, to change the old tax system in the Philippines and make it simpler, more fair, and efficient. The current tax system in the Philippines is both complex and unjust. TRAIN will change this, by reducing personal income tax, simplify estate and donor tax, expand Value-Added Tax coverage and increase oil and automobile excise taxes. Let us look at each of these components. PERSONAL INCOME TAX The proposed Tax Schedule under TRAIN will benefit 99% of the taxpayers. That's more than the percentage of voters who chose Duterte to be President. Based on the table below, the new tax rates will increase take-home pay of most workers and increase the purchasing power of the family or individual. Also, all bonuses not exceeding P100,000 will stay tax-free! Also, by 2020, the tax rates will be even lower. The current income tax rate in the Philippines is actually higher than most of its neighbors. Information gathered showed that Filipinos pay the 2nd highest tax rate in the Asean countries, with also a lower income threshold. This table shows that if you earn P500,000 in Singapore, you don't have to pay income tax. In the Philippines, that's 32% rate. Compare that to Indonesia, where you pay 30% only if you earn three times more than in the Philippines. In Thailand, you pay 35% rate, but only if you earn 11 times more than in the Philippines. Let us see some projected calculations and comparisons of present and proposed tax rates based on worker's salaries, from minimum wage earners to a call-center agent. ESTATE TAX and DONOR'S TAX TRAIN proposes that Estate Tax be fixed at 6% of the estate's net value. There will also be a standard deduction of P1 million and exemption of up to P3 million for family homes. This means that for inheritance with value below standard deduction, and for family homes valued at less than the exemption, no estate tax shall be paid. Only inheritance of rich families will be taxed. A similar scheme is applied for Donor's Tax. A single rate of 6% of the net donations for gifts above P100,000 yearly, will be applied. This is regardless of relationship. VALUE ADDED TAX This part of the TRAIN is least understood and often misrepresented by many. Actually, the VAT system in the Philippines has the most number of exemptions (people, companies, cooperatives and other institutions exempted from paying VAT). TRAIN will expand the tax base by limiting exemptions to necessities - raw food, education, and health. Cooperatives with gross sales of more than P3 million pesos will not be exempted from VAT. Only smaller cooperatives and those that produce raw agriculture products will be VAT exempt. Among the previously exempted entities that will need to pay VAT are: Domestic shipping importation power transmission low cost and socialized housing (if value is more than P1.5M for lots, P2.5M for house and lot) lease of residential units (with monthly rent of over P10,000/month) boy and girl scouts other entities exempted via special laws. This will raise more funds for the poor and vulnerable. Senior Citizens and Persons With Disabilities will still enjoy exemptions. OIL EXCISE TAX Oil excise will be raised by P6 gradually over three years. The rates will be adjusted yearly after the third year. The last time the oil excise tax was adjusted was in 1997. Increasing the petrol price via excise tax will not necessarily affect the savings of the majority. In fact, fuel consumption is higher for the wealthiest Filipino. Take this graphic below: The graphic above shows that the top 10% wealthiest Filipinos use more than half of the fuel for vehicles. The poorest 10% only use 0.6%. The middle group use only about 5%. This means that the wealthiest will be affected more by the price increase in petrol. AUTOMOBILE EXCISE TAX The tax rates for cars will be increased, more for luxury cars than basic cars. This makes the wealthier people pay more tax than the middle class. The wealthiest are the ones who usually buy or own more than one car. An example of computation is shown below: One of the main concerns of the public is the effect of the increased taxes on goods and transportation costs. The government however believes that the net savings for each worker will be greater due to the lower income tax. Also, a percentage of the revenues will be allotted for the poorest Filipinos to help them keep up with any price increase. President Duterte's Tax Reform agenda is vital to the improvement of lives of the Filipino, one that the President vowed to leave behind after his term of office. The current tax system is already 20 years old. If passed into law, the comprehensive tax reform bill is estimated to raise (P)162 billion in net revenues every year. This is vital for the advancement of the economy. The Tax Reform Acceleration and Inclusion program is vital to President Duterte's ten-point socioeconomic agenda. The revenue will be used to improve existing infrastructure and accelerate building new one, providing jobs and better services to people and help move the economy forward. Note: The values and tax rates stated herein are subject to change because the bill on tax reform has not been approved yet in the senate.

Where and How Do OFW Families Spend The Remittances They Receive?

Kasambahay in Saudi With Delayed Salary Can Now Transfer to Other Employers

Household Service Workers or Domestic Workers in Saudi Arabia are no longer need to suffer non-payment of wages. This is after the Ministry of Labor and Social Development (MoL) confirmed that domestic workers can transfer to other employers if the current employer is late in paying wages or salaries for three consecutive months. This is based on 13 ministerial decision of Labor Minister Ali bin Nasser Al-Ghafis that endorsing the transfer of services of domestic workers from their current employer to a new one.

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Friday, February 10, 2017

AT LEAST 15 PEOPLE WERE INJURED AS CHINESE MAN TRIES THROWING A MOLOTOV BOMB INSIDE THE MTR TRAIN IN HONG KONG

At least 15 people are injured in blaze as man attempts to throw "Molotov cocktail" , a bottle filled with gasoline or any highly flammable liquid, on Hong Kong MTR Train in a rush hour.
A video captured after fire breaks out on board the train at TST Station on Friday evening 10 Feb 2017 shows the extent of the blast.

According to police, an initial information shows that there were flames and smoke on board the train at the Tsim Sha Tsui Station at 7.14pm,.
“A man tried to hurl a lit Molotov cocktail (petrol bomb) on board a packed train when it was about to reach TST platform and he caught fire,” the police said.

The Chinese man who sustained severe burns was escorted by police to Queen Elizabeth Hospital after the incident.
“Extra travelling time can be expected on the Tsuen Wan Line. Please allow more time for travel. More details to follow,” the MTR said in a statement on their official website.

They said that no trains would be stopping at Tsim Sha Tsui MTR station because of the incident.

“MTR staff are handling the situation,” MTR said.
About thirteen ambulances were mobilised. Four of the injured were sent to Kwong Wah Hospital, one was sent to Caritas Medical Centre, and another was sent to Queen Elizabeth Hospital.

Police anti-terrorism officers, who were recently deployed to patrol the city’s railway network for the first time to beef up security in response to global terrorist attacks, have been sent to the scene.

Trains from Central to and from Tsuen Wan station will be operating at five minute intervals.

“A free MTR shuttle bus service is operating between Tsim Sha Tsui Station and Yau Ma Tei Station, through Jordan Station; or please consider using other transport,” the MTR said.

According to the reports, the first carriage of the train caught fire, which has been put out later.
Interior designer Ray Chau, 27, said he was originally travelling to Mong Kok when he heard the captain announce that all passengers would have to get off at Tsim Sha Tsui Station.
“I saw [fire] two compartments away, there was a lot of smoke because ... smoke in one compartment quickly filled the entire train.“That train journey felt particularly long,” he said. “There was nothing we could do but to inhale the smoke.”
“One minute we were all playing with our phones, the next there was smoke everywhere.
“Some people thought there was an explosion, many people were screaming.”
He recalled seeing a burned victim upon on the platform.

Source: http://shanghaiist.com
TimeNewsInternational

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China's plans to hire Filipino household workers to their five major cities including Beijing and Shanghai, was reported at a local newspaper Philippine Star. it could be a big break for the household workers who are trying their luck in finding greener pastures by working overseas China is offering up to P100,000 a month, or about HK$15,000. The existing minimum allowable wage for a foreign domestic helper in Hong Kong is around HK$4,310 per month. Dominador Say, undersecretary of the Department of Labor and Employment (DOLE), said that talks are underway with Chinese embassy officials on this possibility. China’s five major cities, including Beijing, Shanghai and Xiamen will soon be the haven for Filipino domestic workers who are seeking higher income. DOLE is expected to have further negotiations on the launch date with a delegation from China in September. according to Usec Say, Chinese employers favor Filipino domestic workers for their English proficiency, which allows them to teach their employers’ children. Chinese embassy officials also mentioned that improving ties with the leadership of President Rodrigo Duterte has paved the way for the new policy to materialize. There is presently a strict work visa system for foreign workers who want to enter mainland China. But according Usec. Say, China is serious about the proposal. Philippine Labor Secretary Silvestre Bello said an estimated 200,000 Filipino domestic helpers are presently working illegally in China. With a great demand for skilled domestic workers, Filipino OFWs would have an option to apply using legal processes on their desired higher salary for their sector. Source: ejinsight.com, PhilStar Read More: The effectivity of the Nationwide Smoking Ban or E.O. 26 (Providing for the Establishment of Smoke-free Environment in Public and Enclosed Places) started today, July 23, but only a few seems to be aware of it. President Rodrigo Duterte signed the Executive Order 26 with the citizens health in mind. Presidential Spokesperson Ernesto Abella said the executive order is a milestone where the government prioritize public health protection. The smoking ban includes smoking in places such as schools, universities and colleges, playgrounds, restaurants and food preparation areas, basketball courts, stairwells, health centers, clinics, public and private hospitals, hotels, malls, elevators, taxis, buses, public utility jeepneys, ships, tricycles, trains, airplanes, and gas stations which are prone to combustion. The Department of Health urges all the establishments to post "no smoking" signs in compliance with the new executive order. They also appeal to the public to report any violation against the nationwide ban on smoking in public places. Read More: ©2017 THOUGHTSKOTO www.jbsolis.com SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below Smoking is only allowed in designated smoking areas to be provided by the owner of the establishment. Smoking in private vehicles parked in public areas is also prohibited. What Do You Need To know About The Nationwide Smoking Ban Violators will be fined P500 to P10,000, depending on their number of offenses, while owners of establishments caught violating the EO will face a fine of P5,000 or imprisonment of not more than 30 days. The Department of Health urges all the establishments to post "no smoking" signs in compliance with the new executive order. They also appeal to the public to report any violation against the nationwide ban on smoking in public places. ©2017 THOUGHTSKOTO

Dominador Say, undersecretary of the Department of Labor and Employment (DOLE), said that talks are underway with Chinese embassy officials on this possibility. China’s five major cities, including Beijing, Shanghai and Xiamen will soon be the destination for Filipino domestic workers who are seeking higher income.

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Thursday, March 08, 2018

Is P100-200 Cash Subsidy For Minimum Wage Earners Enough?

Wednesday, December 20, 2017

10 Million Poor Pinoy Households to Get P200/Month Under TRAIN

Wednesday, December 13, 2017

Lower Income Tax, Higher Taxes On Sugar, Petroleum, Tobacco Products By 2018.

Wednesday, October 04, 2017

Are You an SSS Member? Your Contribution is Set To Increase in 2018

Saturday, July 22, 2017

OFW Remittance Will Not Be Taxed Under Duterte's Tax Reform Plan

How Much Will You Save Under President Duterte's Tax Reform Program?

Where and How Do OFW Families Spend The Remittances They Receive?

Kasambahay in Saudi With Delayed Salary Can Now Transfer to Other Employers

Friday, February 10, 2017

AT LEAST 15 PEOPLE WERE INJURED AS CHINESE MAN TRIES THROWING A MOLOTOV BOMB INSIDE THE MTR TRAIN IN HONG KONG