The Philippines House committee on women and gender equality chaired by Representative Emmeline Aglipay-Villar has endorsed for plenary approval a bill seeking to increase the maternity leave period with an option to extend that leave without pay.
House Bill 4113, a substitute measure for 15 bills, aims to protect the maternal health and postnatal health care of women employed in both the government service and private sector, as well as the welfare of the child.
“The bill reached second reading in the House and a version of the bill from the Senate was passed and transmitted for concurrence during the 16th Congress,” said Aglipay-Villar. Elizabeth Angsioco, National Chairperson of the Democratic Socialist Women of the Philippines (DSWP) and one of the resource persons during the committee hearing, said the existing maternity leave benefits of 60 to 78 days is extremely inadequate and applicable laws need to be amended.
“We belong to a group of countries with the shortest maternity leaves in the whole world based on the International Labor Organization (ILO) resources,” Angsioco said.
One of the key provisions of the bill is it increases the maternity leave period to 100 days with pay and an option to extend for an additional 30 days without pay for female workers in the government service and in the private sector.
Likewise, it grants the same coverage to female workers in both government and private sector regardless of civil status, miscarriage, or abortion after termination; to female workers in the informal economy, those with pending administrative cases and those who are not members of the Social Security System (SSS).
The proposal further assures security of tenure to female workers and emphasises that maternity leave shall not be used as basis for demotion in employment or termination, and allows transfer to a parallel position or reassignment from one organisational unit to another in the same agency provided that it shall not involve a reduction in rank, status or salary.
Another provision states that a female SSS member who has paid at least three monthly contributions in the 12-month period immediately preceding the semester of her childbirth or miscarriage shall be paid her daily maternity benefit which shall be computed based on the average monthly salary credit, for 100 days, regardless if the delivery was normal or by Caesarian and subject to conditions as provided in the bill.
The measure specifies that female workers in the private sector availing of the maternity period and benefits must receive not less than two-thirds of their regular monthly wages and that employers shall be responsible for the salary differential between the actual cash benefits received from the SSS and their average weekly or regular wages, for the entire duration of the ordinary maternity leave subject to exceptions.
These exceptions are: those operating distressed establishments; those retail/service establishments employing not more than 10 workers; those who pay their workers on a purely commission, boundary, or task basis; and those who are paid a fixed amount for performing a specific work.
Others included in the exceptions: those considered as micro business enterprises and are engaged in the production, processing, or manufacturing or products or commodities including agro-processing, trading, and services whose total assets are not more than P3 million; and those who are already providing similar or more than the benefits as provided in the bill.
The bill designates the Civil Service Commission (CSC) and the SSS to immediately conduct a review of the maternity leave benefits of women employees in the government service and the private sector, respectively, and include maternity leave benefits in their valuation report conducted every four years for the SSS and every three years for the CSC, or more frequently as may be necessary.
Showing posts with label legislation. Show all posts
Showing posts with label legislation. Show all posts
28 October 2016
18 April 2016
Labuan IBFC emphasises focus on compliance and transparency for business activities
In the wake of the Panama Papers expose, the Labuan International Business and Financial Centre (Labuan IBFC) has emphasised that it continues to play a facilitative role for cross-border trades and investments, particularly in the ASEAN region, but also ensures rigorous transparency and high regulatory requirements for the business activities undertaken by players.
The centre has continuously enhanced its regulatory framework and supervisory regime in conformity with international standards and practices on transparency and regulatory compliance, said the organisation in a statement.
“The current issue relating to the information leakage has heightened the demands for greater transparency and effective exchange of information across all international financial centres,” said Danial Mah, CEO, Labuan IBFC, the marketing arm for Labuan Financial Services Authority (Labuan FSA).
Considering that Labuan has attractive value propositions and is strategically located to investors to establish their businesses in this region, there is a need to ensure that the laws and regulations are robust to govern the centre and ensure that it operates in a sound, prudent and transparent manner.
He added that “the business activities in Labuan IBFC are conducted under a strong set of rules and regulations that ensure the orderly establishment and operations of Labuan business entities including the licensing of financial institutions”.
“The current issue relating to the information leakage has heightened the demands for greater transparency and effective exchange of information across all international financial centres,” said Danial Mah, CEO, Labuan IBFC, the marketing arm for Labuan Financial Services Authority (Labuan FSA).
Considering that Labuan has attractive value propositions and is strategically located to investors to establish their businesses in this region, there is a need to ensure that the laws and regulations are robust to govern the centre and ensure that it operates in a sound, prudent and transparent manner.
He added that “the business activities in Labuan IBFC are conducted under a strong set of rules and regulations that ensure the orderly establishment and operations of Labuan business entities including the licensing of financial institutions”.
Labuan FSA, as the regulatory authority, supervises and regulates the various financial institutions including trust companies which are responsible for the registration of Labuan entities. They are required by regulations to have proper due diligence process in place when dealing with potential customers and maintain records and accounts of their clients in Labuan.
Labuan IBFC as part of Malaysia is committed to the global standards and requirements on transparency and exchange of information. In the area of taxation, Labuan IBFC’s tax laws are in compliance with the internationally agreed tax standards under the OECD Global Forum on Tax Transparency and Effective Exchange of Information.
Malaysia including Labuan have been cooperating with other countries in exchange of information under the various multilateral and bilateral agreements including the Double Tax Agreements signed by Malaysia with more than 75 countries. The Labuan Business Activity Tax Act 1990 was amended in 2010 to provide for accessing and sharing of information with other regulatory and competent authorities. Labuan IBFC is also committed to the reporting requirements under the Foreign Account Tax Compliance Tax Act and Common Reporting Standards for Automatic Exchange of Information (CRS-AEOI).
Mah reiterates “in fact, Malaysia (including Labuan) is among the countries that made early commitment to adopt the OECD standards on exchange of information”. Furthermore, Labuan is a full signatory to the International Organization of Securities Commission’s Multilateral Memorandum of Understanding (MOU) that enhances regulatory cooperation with other Securities Commissions on capital market activities. It has also signed bilateral MOUs with other regulatory authorities to further reinforce cross-border cooperation on regulatory and supervisory activities.
In addition, the jurisdiction requires its players and service providers to be in compliance with the laws and guidelines pertaining to Anti Money Laundering and Combating Financing of Terrorism (AML/CFT). Malaysia (including Labuan) was one of the early jurisdictions to undergo the international mutual evaluation exercise under the new methodology in 2014 and the admission of Malaysia as a member of the FATF in February 2016 is a testament of the commitment to standards and practices in AML/CFT.
Mah concluded that Labuan IBFC will continue to play a positive role in providing the synergy and connectivity for financial linkages and businesses in the region, particularly among the ASEAN countries. “We welcome legitimate and genuine businesses and players that want to operate in Labuan IBFC’s cost-efficient and well-regulated environment.” he said.
Labuan IBFC as part of Malaysia is committed to the global standards and requirements on transparency and exchange of information. In the area of taxation, Labuan IBFC’s tax laws are in compliance with the internationally agreed tax standards under the OECD Global Forum on Tax Transparency and Effective Exchange of Information.
Malaysia including Labuan have been cooperating with other countries in exchange of information under the various multilateral and bilateral agreements including the Double Tax Agreements signed by Malaysia with more than 75 countries. The Labuan Business Activity Tax Act 1990 was amended in 2010 to provide for accessing and sharing of information with other regulatory and competent authorities. Labuan IBFC is also committed to the reporting requirements under the Foreign Account Tax Compliance Tax Act and Common Reporting Standards for Automatic Exchange of Information (CRS-AEOI).
Mah reiterates “in fact, Malaysia (including Labuan) is among the countries that made early commitment to adopt the OECD standards on exchange of information”. Furthermore, Labuan is a full signatory to the International Organization of Securities Commission’s Multilateral Memorandum of Understanding (MOU) that enhances regulatory cooperation with other Securities Commissions on capital market activities. It has also signed bilateral MOUs with other regulatory authorities to further reinforce cross-border cooperation on regulatory and supervisory activities.
In addition, the jurisdiction requires its players and service providers to be in compliance with the laws and guidelines pertaining to Anti Money Laundering and Combating Financing of Terrorism (AML/CFT). Malaysia (including Labuan) was one of the early jurisdictions to undergo the international mutual evaluation exercise under the new methodology in 2014 and the admission of Malaysia as a member of the FATF in February 2016 is a testament of the commitment to standards and practices in AML/CFT.
Mah concluded that Labuan IBFC will continue to play a positive role in providing the synergy and connectivity for financial linkages and businesses in the region, particularly among the ASEAN countries. “We welcome legitimate and genuine businesses and players that want to operate in Labuan IBFC’s cost-efficient and well-regulated environment.” he said.
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