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

Don't leave your success to chance!

Letters of Credit (LC) is one of the safest and most reliable commercial payment instrument and most commonly used in international trade transactions. With the ASEAN integration and expected increase in global trade, many businesses want to learn how to use this mode of payment. To help businesses effectively use LCs, the Center for Global Best Practices, in collaboration with the International Chamber of Commerce, will host a two-day training entitled, Mastering the Useof LC for Import & Export to be held on Thursday & Friday, April 25 & 26, 2019 at the Manila Marriott Hotel, Pasay City, Philippines. This program will guide you on everything you need to know about LC transactions and operations. Attendees will learn practical steps and valuable tips in issuing proper LCs and how they work, what to do to avoid pitfalls, and actions to take in cases of discrepancies. Discussion will also cover revised regulations and applications of UCP 600 involving letters of cr...
Post a Comment
Read more

2019 Revised Corporation Code of the Philippines

The 2019 Revised Corporation Code of the Philippines that took effect last February 21 will have tremendous impact on all corporations in the Philippines. To educate corporations about this, the Center for Global Best Practices will host a special program entitled 2019 Revised Corporation Code of the Philippines to be held on Thursday, April 11, 2019 at the EDSA Shangri-La Hotel, Mandaluyong City, Philippines. This program is designed to help you in your compliance, in structuring your deals and to avoid the legal pitfalls when making decisions in board and management meetings or when doing business and investing in the Philippines. The new legal framework introduces fresh concepts aligned with international best practices aimed at improving ease of doing business in the country. This program is SEC-Accredited for corporate governance. Board directors and top management attending this training will greatly benefit from this learning event. This one-day training will...
Post a Comment
Read more

Learn How to Effectively Sell Products to the Government!

  COVID-19 pandemic changed how business is done everywhere. As we adapt to the new normal, it is a must to be updated with the procurement law and regulations on public-private transactions. For those in private sector, non-compliance can lead to disqualification. For government officials, ignorance of the update regulations can cost you your job, damage your reputation and land you in jail! To help you on this, the Center for Global Best Practices will host these two-session webinars from 1:30 PM to 4:30 PM via ZOOM: • Best Practices Guide to the Law and IRR for Procurement of Goods Thursday & Friday, September 17 & 18, 2020 • Best Practices Guide to the Law and IRR for Procurement of Infrastructure Wednesday & Thursday, October 21 & 22, 2020 • Best Practices Guide to the Law and IRR for Procurement of Consulting Services Thursday & Friday, March 11 & 12, 2021 These comprehensive webinars will cover fundamental principles, procurement organiza...
Post a Comment
Read more