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Minimum Wages and Taxes Concerns of Filipino Entrepreneurs
Minimum Wages and Taxes Concerns of Filipino Entrepreneurs
Applied Economics
General Academic Strand | Accountancy, Business, and Management
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2
In 2015, Anna and Carlo had similar work but in different
locations. Anna works as a secretary at a law firm in
Quezon City while Carlo has the same position in another
law firm located in Bataan. Anna's daily salary is ₱537,
while Carlo's is ₱413.
3
There was a new law that was
implemented to enhance the tax
system in the Philippines called
the Tax Reform for Acceleration
and Inclusion (TRAIN) or
Republic Act No. 10963.
4
The law raises the
minimum taxable
income that helps a lot
of working-class
Filipinos to save more.
5
In order to sufficiently collect
funds for its projects and services,
the government needs to impose
higher taxes on goods and
services.
6
How did the TRAIN law affect
both Anna and Carlo? Is a
difference in their minimum
wage affects their buying
patterns significantly? Why do
they have different minimum
wage rates in the first place?
7
Learning
Competency Analyze the effects of contemporary issues
such as migration, fluctuation in the exchange
rate, oil price increases, unemployment, peace
and order, etc. on the purchasing power of the
people (ABM_AE12-Ie-h-8).
8
Learning ● Discuss the changes to minimum wage
Objectives rates over time and its effect on workers.
9
Essential
Question
10
Minimum Wage
11
Minimum Wage
12
Minimum Wage
13
Minimum Wage
14
Minimum Wage
15
Minimum Wage
16
Minimum Wage
17
Minimum Wage
18
Minimum Wage
19
Minimum Wage
TIER 1 TIER 2
21
Problems in Different Minimum Wage Rates
22
Problems in Different Minimum Wage Rates
23
Taxes
24
Taxes
Collecting taxes is
necessary, and anybody
who fails to pay mandated
taxes is held accountable
by law.
25
Types of Taxes
Tax on papers,
instruments, loan
agreements, and
documentation showing
the approval, assignment,
settlement, or change of a
contract or right
27
Types of Taxes
Donor’s Tax
28
Types of Taxes
Estate Tax
29
Types of Taxes
Income Tax
30
Types of Taxes
Percentage Tax
Value-Added Tax
32
Types of Taxes
Compensation
Withholding Tax
33
Types of Taxes
34
Types of Taxes
35
Types of Taxes
36
Types of Taxes
Excise Tax
37
TRAIN Law
Comprehensive Tax Reform Program (TRAIN Law)
39
TRAIN Law
Comprehensive Tax Reform Program (TRAIN Law)
40
Benefits of TRAIN Law
Education
41
Benefits of TRAIN Law
Healthcare Services
42
Benefits of TRAIN Law
Infrastructure Programs
43
Concerns under the TRAIN Law
44
Concerns under the TRAIN Law
45
Concerns under the TRAIN Law
46
Taxes
Tax Computation
47
Compulsory Contributions in the Philippines
It is a government-run social
institution that caters to
private, professional, and
informal sectors.
48
Compulsory Contributions in the Philippines
Government Service
Insurance System (GSIS)
It is a government-run social
institution that caters to the public
sector, including government
employees and uniformed
personnel.
49
Compulsory Contributions in the Philippines
PhilHealth
It is a government-controlled
corporation that seeks to
provide universal health care
in the Philippines.
50
Compulsory Contributions in the Philippines
Pag-IBIG
It is a state-run social
institution that provides
affordable housing and loan
schemes for Filipinos.
51
Discuss how the following factors (population, employment,
and wages) contribute to the increase in commodity pricing.
Arrange them in the most cohesive order.
52
Read and answer the questions below:
53
Rearrange the letters below to identify what is
Try This!
being described.
1. The minimum amount of compensation
required by an employer to pay wage earners
for work performed within a particular time
MIUIMMN
AEWG
54
Rearrange the letters below to identify what is
Try This!
being described.
OTW
ERIEDT
MSTYES
55
Rearrange the letters below to identify what is
Try This!
being described.
3. Involuntary charges imposed on individuals or
companies and imposed by a government
agency to fund government operations
XASET
56
Rearrange the letters below to identify what is
Try This!
being described.
4. A tax-exempt federal agency that oversees the
procurement of health coverage and sets
guidelines
HLELHTAHIP
57
Rearrange the letters below to identify what is
Try This!
being described.
1. One of its goals is to make the Philippine Tax
System faster, fairer and more effective.
NTRIA
58
Wrap-Up
● Minimum wages are characterized as the
minimum amount of compensation required by
an employer to pay wage earners for work
performed within a particular time, and cannot
be decreased by a negotiated agreement or by
an individual contract.
59
● Taxes are involuntary charges imposed on
Wrap-Up
individuals or companies and imposed by a
government agency to fund government
operations, whether local, regional or national.
61
Bibliography
Balitao, Bernard R., Martiniano D. Buising, Edward D.J. Garcia, Apollo D. De Guzman, Juanito L. Lumibao Jr., Alex P.
Mateo, and Irene J. Mondejar. Ekonomiks Araling Panlipunan Modyul para sa Mag-aaral. Pasig City: Vibal Group
Inc., 2015.
Cordero, John Ted. “Proposed Wage Hike Will Benefit Only 16% of PHL Workforce -ECOP.” GMA Network, September
24, 2016. https://www.gmanetwork.com/news/money/economy/582555/proposed-wage-hike-will-benefit-only-
16-of-phl-workforce-ecop/story/.
Greenlaw, Steven A. and David Shapiro. Principles of Economics 2e. Houston, Texas: OpenStax, 2017.
Kagan, Julia. “Income Tax Terms and Guide: Taxes.” Investopedia. 2020.
https://www.investopedia.com/terms/t/taxes.asp.
62
Bibliography
National Wages and Productivity Commission. “Socio-Economic Profile.” Department of Labor and Employment
National Wages and Productivity Commission. September 2019. https://nwpc.dole.gov.ph/publications/socio-
economic-profile-september-2019/.
Tullao, Tereso Jr. S. Applied Economics for a Progressive Philippines. Quezon City: Phoenix Publishing House, 2016.
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