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As the current pandemic escalates, we understand the uncertainty and worry that you may be facing right now.
Hence, we’ve come up with a COVID-19 JuzTalent Care Pack to ensure that you can still get the best payroll assistance
during this trying period.
Please know that JuzTalent is here for you. As the current situation evolves, we hope that our Care Package will better assist
you during this difficult time.
Because together, we are stronger.
The President issued EO 114 dated May 6, institutionalizes the “Balik Probinsiya, Bagong Pag-asa (BP2) Program. The program aims to promote the inclusive and balanced urban and rural development, ensure rural prosperity, and create resilient and sustainable communities. A council shall create guidelines to implement the program focusing on the following key areas:
· Empowerment of local industries
· Food security and agricultural supply
· Social welfare, health and employment
· Development of infrastructure
The program is expected to give incentives to qualified individuals and enterprises involved in regional business.
The IATF-EID issued Resolution 35 dated May 11 and recommends the following:
· Lifting of CQ from May 16 for specified low-risk provinces.
· Placing under GCQ until May 31 of specified moderate risk provinces.
· Placing under Modified ECQ (MECQ) until May 31 of the following high-risk areas of Laguna, Pateros, NCR and Cebu City
Refer to the following comparison of ECQ, MECQ and GCQ in terms movement, transportation and classes, as well as list of allowed industries under MECQ.
DOF repackaged CITIRA bill and renamed it Corporate Recovery and Tax Incentives for Enterprises Act or CREATE which proposes:
· Immediate lowering of corporate income tax (CIT) to 25% from the current 30%, which will have a revenue impact of a total of P226.8 billion. Originally, CITIRA proposes 1% yearly reduction of CIT from 30% to 20%. In the new bill, the reduction of5% is immediate while the next administration have flexibility over the other 5 percent.
· Longer transition period of additional two (2) years for existing firms receiving incentives (in addition to the sunset provision of CITIRA), which will cost government P32.65 billion.
· Targeted and timebound tax incentives to support Balik Probinsiya, Bagong Pag-asa Program (BP2) where the Fiscal Incentives Review Board (FIRB) is tasked to improve the governance of tax incentives by tailoring programs to the individual companies’ needs.
· Extending the enhanced NOLCO for small business for five years from the current 3 years, with the government absorbing as much as P139.6 billion in the form of forgone tax payments to help these enterprises recoup their losses.
To off-set losses from above measures, DOF is looking for new sources of revenue as follows:
· VAT on digital economy – all non-residents that registered e-commerce platforms are responsible for withholding VAT from clients
· New sin tax law – 6 percent indexation on sweetened beverage tax while imposing 8 percent ad valorem tax to junk food with high transfat and high salt
· House Bill 4695 proposes Motor Vehicle Road Users’ Tax (MVRUT)
· House Bill 5267 proposes Philippine Offshore Gaming Operations (POGOs) to pay a 5 percent tax on gross receipts from their operations
BIR issued the following circulars:
a. RMC 46, dated May 7 circularizes the guidelines and requirements for POGO Licensees and Service Providers for the processing of their application for a BIR Clearance in connection with the resumption of operations
b. RMC 47, released May 11 provides temporary alternative means of issuing receipts and invoices a follows:
· Scanned copies of manual receipt or invoice duly registered receipts and invoices
· Computer-aided receipts and invoices (without ATP, or not duly-registered) transmitted electronically
· Supplementary receipts in lieu of principal invoices
· Computer generated receipts (PTU) sent via email or other electronic means
· Computer generated receipts (without PTU) sent via email or other electronic means
PROVIDED: that the taxpayer shall write an e-mail request to BIR before adopting above alternative means.
DOLE issued the following orders and guidelines:
a. DO 212 prescribes guidelines on the provision of financial assistance to displaced OFWs (land or sea-based) or “DOLE AKAP for OFWs”
b. DO 213 provides guidelines on prescription of actions and suspension of deadlines to file pleading, motions and other documents related to application for certificate of registration, AEP, PEA, and those related to labor violations/dispute/arbitration proceedings.
c. DOLE and DTI released interim guidelines on workplace prevention and control of COVID-19.
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