Structure your salaries, benefits effectively

The Tax Reform Acceleration and Inclusion (TRAIN) Act took effect on Jan. 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 was aggravated in the passing 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 seminar for business owners, decision-makers and HR practitioners on the topic, “How to Structure and Compute Your Salaries, Wages and Benefits with the 2018 TRAIN Incentives for Taxpayers” scheduled on March 1, at the Manila Marriott Hotel, Pasay City.

For details and a complete list of seminars including BIR CAS Compliance for Medium and Large Taxpayers, Tax Rights and Remedies for SMEs and Large Taxpayers, Local Government and Real Property Taxation, Taxation of Hotels, Restaurants and Resort Businesses, and many more, you may log on to www.cgbp.org or call (02) 8427148/ 59 and 5568968/ 69; Cebu (032) 5123106 or 07; Baguio (074) 4235148; and Legazpi (052) 736-0148.

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 all these from labor law practitioner and HR expert, Atty. Elvin Villanueva. He is the author of 23 books including Guide on Employee Compensation and Benefits Vol. 1 and 2; Guide to Valid Dismissal of Employees; Guide on Wage Order and Minimum Wage; Valid Job Contracting and Subcontracting, Gabay sa mga Karapatan ng mga OFWs; HR Forms, Notices and Contracts Vol. 1 and 2; Employee Transfer and Demotion; Leave Benefits; How to Pass the Bar Examination; Real Estate Practices in the Philippines; Real Estate Exam Reviewer; and Real Estate Reviewer: Brokerage Practices.

Interested participants are encouraged to avail of the group discounts for three or more participants. This is a limited-seats-only event and pre-registration is required.