Archives for October 2013

SSS, Philhealth and Pag-ibig Payment Deadlines and Penalties

When your registered business in the Philippines is employing people, you are mandated to provide your compulsory coverage to state insurance fund (SSS or GSIS) to all your employees not over sixty (60) years old, as stated in Art 168 of the Labor Code of the Philippines. In addition to state insurance fund (SSS or […]

What are the Books of Account?

All business establishments and taxpayers are required to keep a record of their day to day business transactions in order to know the result of their operations. The said record is referred to as “book of accounts”. Whenever a business establishment or taxpayer applies for certificate of registration (COR) with the BIR, it also required […]