The looks may be the same but the processor chip is the latest.

The features of USB download and battery back-up have been kept. For more details.

Republic Act No. 9504 exempts minimum wage earners in the private sector and their counterparts in the public sector (casual employees) from paying income tax.

Personal exemptions up

The law increased the amount of personal exemption from P25,000 to P50,000 for all taxpayers regardless of status (single, married or head of the family), and the additional deduction for qualified dependents from P8,000 to P25,000.

Thus, a family of six, with two working spouses and four dependent children, will have a total of P200,000 in personal exemptions (from the current P96,000).

In case only one of the spouses is earning, he or she shall be allowed the standard personal exemption of P50,000.

The law defines a “dependent” as a “legitimate, illegitimate or legally adopted child” living with the taxpayer and not more than 21 years old, unmarried and not gainfully employed.

These provisions eliminated the old tax bracketing system under the 1997 National Revenue Code, as amended, which had specified tax exemption of P20,000, P25,000 and P32,000 for single, head of the family and married, respectively.

PERSONAL EXEMPTIONS

………..Before (in pesos)…. Now (in pesos)

Single ………….20,000 ………50,000

Head of Family.. 25,000……… 50,000

Married …………32,000……… 50,000

Each Qualified Dependent

(Not exceeding 4) 8,000…….. 25,000

Family of 6 (Two working spouses,

4 dependent children) 96,000… 200,000

Read more…

When newspapers report about the efforts of Congress to pass a law intending to lower the taxes that are being paid by individuals, I must admit that I was skeptical on the possibility of this happening in the next couple of months. After all, bills seeking to reduce the tax burden on these taxpayers have long been filed, deliberated and studied in previous sessions of Congress, left unapproved when the last sessions ended, and then refiled when the next Congress opens it first regular session.

When I heard that the House of Representatives had already approved its version and transmitted the same to Congress, my hopes were raised, but I was still not that enthusiastic. I was expecting that it would take a few more months before the Senate, too, can approve its own version. Hence, it was a pleasant surprise to read a few days later that Senate had approved its version. What was doubly astonishing to read, immediately thereafter, that the House, in what I believe is an unprecedented move, recalled the version it earlier approved and adopted instead the Senate version. ……More

The system not only handles the usual payroll processing, it also makes it easier to upload timekeeping data. In the future the HR features will be released so that employers and employees can manage personal data and use the system for leave management.

The system was developed in cooperation with AsiaHRIS in Hong Kong which is a regionwide payroll and HRIS service.

Blucheck Global Services participated in the Negosyong Pinoy 2007 Exhibition at the Megamall Mega Trade Hall last November 30 to December 02, 2007.

Blucheck is a member of the Kaentrep-Small and Medium Entrepreneur Association of the Phillippines.