Inquirer
Small business wage subsidy application deadline extended
The Department of Finance (DOF) has extended the application period for the Small Business Wage Subsidy (SBWS) program until May 8 due to technical issues encountered with the Social Security System's (SSS) website.
The SBWS program aims to provide a P51-billion wage subsidy to middle-class workers employed by small businesses significantly impacted by the COVID-19 crisis.
Originally set to close on April 30, the application deadline was moved to accommodate employers facing difficulties with the SSS online system.
Employers must apply on behalf of their employees through the SSS system, with instructions sent via email, or by using their My.SSS accounts.
The program is designed to assist approximately 3.4 million formal sector workers employed by about 1.5 million businesses that have been forced to suspend operations or adopt skeletal workforces due to quarantine measures.
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The Bureau of Internal Revenue (BIR) has approved the wage subsidy applications of over one million workers whose companies temporarily closed during the Enhanced Community Quarantine (ECQ).
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The Philippine government has begun accepting applications for its Small Business Wage Subsidy Program to assist micro, small, and medium enterprises (MSMEs) in retaining employees during the COVID-19 community quarantine.
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PayMaya Philippines, Inc. and the Social Security System (SSS) have partnered to facilitate the disbursement of cash subsidies to over 3 million workers affected by the COVID-19 pandemic.
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Employees of small businesses must have a Tax Identification Number (TIN) and their employers must demonstrate a higher degree of tax compliance over the last three years to be eligible for the Small Business Wage Subsidy (SBWS) program.
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Senator Christopher "Bong" Go praised the government's Small Business Wage Subsidy (SBWS) program, highlighting the crucial role of micro, small, and medium enterprises (MSMEs) in the Philippine economy.
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