Skip to main content

How to Structure and Compute Salaries, Wages and Benefits


  
The Tax Reform Acceleration and Inclusion (TRAIN) Act took effect on January 1, 2018. This means NEW computation on compensation!  


Many businesses and HR practitioners are not skilled and updated on how to maximize the tax savings and benefits that is allowed by government.  The confusion on how to properly compute for the salaries, wages, and benefits with the passage of 2018 TRAIN provisions, which impacts both individual and corporate taxpayers.

To help the millions of taxpayers and thousands of business organization on this issue, the Center for Global Best Practices is launching a training for business owners, decision-makers and HR practitioners on the topic, "How to Structure and Compute Your Salaries, Wages & Benefits with the 2018 TRAIN Incentives for Taxpayers" scheduled on Friday, July 6, 2018 at the EDSA Shangri-La Hotel, Mandaluyong City, Philippines.

You can actually increase the take home pay of your workers by designing your compensation structure to maximize the use of De Minimis Benefits, Fringe Benefits, other benefits, optimizing the allowable deductions and tax exemptions, giving the 13th month pay on a monthly basis, and more!  This will mean less taxes to withhold, more money for your employees. Participants will be shown how to link these new measures to create a cohesive and highly beneficial structure for employers and employees. This offers a window for companies to align compensation approaches with business strategies to achieve a program that attracts, retains and motivates workers and at the same time minimizes tax costs to businesses and their people.

Learn valuable lessons and insights from labor law expert practitioner, Atty. Elvin Villanueva, who has assembled the most comprehensive, substantive and highly researched materials on this important topic. He has written 25 best-selling books namely: Digest on Critical Supreme Court Decisions on Labor Cases (to be released in June 2018); Guide on Employee Compensation and Benefits Vol. 1 & 2; Guide to Valid Dismissal of Employees; Guide on Wage Order & Minimum Wage; Valid Job Contracting and Subcontracting, Gabay sa mga Karapatan ng mga OFWs; HR Forms, Notices & Contracts Vol. 1 & 2; Employee Transfer & Demotion; Leave Benefits; and many more! His advocacy is to help companies and employees solve their HR issues.

You may also find of interest other Best Practices Programs

 1) Best Practices in Resource Mobilization and Management 
     for Private Colleges and Universities
     Thursday and Friday, August 2 & 3, 2018

 2) Best Practices Guide on How to Import Goods to the Philippines
     Thursday, August 9, 2018

 3) Best Practices Guide to Valid Dismissal
     Friday, October 26, 2018

 4) Best Practices in Implementing Effective Business Controls
     Thursday, August 16, 2018

5) Legal Best Practices in Crafting Your HR Code of Discipline
     Friday, December 7, 2018

6) TRAIN Law + New Year Tax Updates and Remedies
     Friday, January 18, 2019

7) Critical Supreme Court Decisions on Labor Cases
     Tuesday, June 19, 2018


The Center for Global Best Practices (CGBP) also accepts in-house training and consulting for individuals, families, and corporate clients. For complete details and list of other best practices seminars, you may check www.cgbp.org or call Manila lines at (+63 2) 842-7148 or 59; (+63 2) 556-8968 to 69; Baguio Line (+63 74) 423-2914, Legazpi Line: (+63 52) 736-0148 and Cebu lines at (+63 32) 512-3106 to 07.

Note: Public officials and government employees attending these training programs are exempted from the P 2,000 limit set by COA based on the Department of Budget and Management circular 563 issued on April 22, 2016.
#BestPractices #UpcomingSeminars2018 #PhilippineTraining #PhilippineConferences #MemorandumOrders #RevenueRegulations #TaxUpdates2018 #PhilippineLaws #TRAINLaw #BeFullyInformed #EmployeeCompensation #EmployeeBenefits #EmployeeEmployerRelationship #FringeBenefits #DeMinimisBenefits  #CPDAccredited #CPDCreditUnits #WhatsYourSalaryGrade #HowtoSaveonTaxes #HowtoKeepEmployeesHappy #HowtoIncreaseTakeHomePay #HowtoStructureandComputeSalariesWagesandBenefits
Labels:

Comments

Post a Comment

Popular posts from this blog

Legal Best Practices in Crafting your HR Code of Discipline

You may have your HR policies and contracts in order, but do you have an effective code of discipline aligned with the updated labor laws?  The code of discipline is your manual that defines the penalties for violation of company policies.  It is the common point of reference for the employer when disciplinary or legal actions may be taken on the part of wayward and rogue employees. To help the management and HR practitioners implement discipline on their organizations, the Center for Global Best Practices will host a special training entitled, Legal Best Practices in Crafting your HR Code of Discipline to be held on Friday, December 7, 2018 at the Manila Marriott Hotel, Pasay City, Philippines. This one-day training will teach you how to design and craft your code of discipline – the right way . Learn the best practices on how to prepare, establish and implement disciplinary policies guaranteed to promote professionalism, industrial harmony and ward off any temptation
Post a Comment
Read more

BIR CAS Compliance for Contractors and Property Developers

  Inviting all medium and large taxpayers to this one-day seminar on  “BIR Computerized Accounting System Compliance for Contractors and Property Developers”  to help those organization who are having difficulty setting up, getting accreditation, and running a successful computerized accounting system (CAS) in compliance with the BIR regulation 2009-9.  This program is to provide guidance and assistance to these companies who are large taxpayers and medium sized (ones who are soon to be re-classified as large taxpayers).  This includes those top 500 medium taxpayers in each revenue districts whose will have the same compliance requirement as the large taxpayers.  This event is scheduled on Thursday, February 8, 2018 at the Manila Marriott Hotel, Pasay City, Philippines.  The lecture is also applicable for other types of large taxpayers. Given the Duterte administrations need for more funding for infrastructure, it has set its focus as one of its priorities to strengthen it’
Post a Comment
Read more

Transformative Law Teaching

Legal educators RELOADED! This two-day faculty development program aims to present new law professors with best practices in teaching law, and introduce experienced law professors to innovations in curriculum development and teaching methods. This is designed to improve the overall teaching performance of law educators by exposing them to learner-centered, outcome based education, an array of teaching methods, classroom management and more! This pioneering initiative is spea rheaded by the Philippine Association of Law School (PALS) and the Center for Global Best Practices. Register on or before December 5 to avail of the early registration and payment discount! If you are applying to be a law professor, this program will enhance your eligibility to teach at a PALS member school. Title: Transformative Law Teaching Date: January 5 & 6, 2018 (Friday & Saturday) Venue: University of San Carlos, Cebu City, Philippines Interested participants may contact Center for
Post a Comment
Read more