How are different expense categories treated in the Philippines for reimbursement?

Expenses Invoicing Requirements

Required receipt/invoice should under our name Velocity Global Philippines and Address

Velocity Global Philippines, Inc.

Passports/Work Permits/Visa

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Transportation Expenses

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Per diems

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Within Philippines – If prior approval is given, Velocity Global may pay a per diem rate

of US$ 150 per day for travel outside the working location and within Philippines.

Overseas – For overseas trips, if prior approval is given to use this method since

receipt reimbursement is our preferred method, the per diem rate is as follows:

Asia Pacific Region US$ 200 per day

Europe US$ 300 per day

North America US$ 300 per day

Air Travel/Bus and Train

Invoices and/or receipts for air travel/Bus and Train must be issued in the name of Velocity Global.

Taxi, Cabify, Uber, and related apps

Invoices and/or receipts for Taxi, Cabify, Uber, and related apps must be issued in the name of Velocity Global Philippines.

Car Rental

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Car Parking Fees

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address.

Parking at home or at the office is not reimbursable.

Tolls

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Other Business Travel-Related Expenditure

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Travel Insurance

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Mileage and Fuel

Mileage expense are Grossed up, and for FUEL velocity Philipphnes address and tax id is required else Gross up.

Accommodation

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Meals (travel/events/during work)

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Client Entertainment

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Staff Entertainment

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Mobile Phone bills

This expense will be grossed up

Broadband (Internet)

This expense will be grossed up

Computer Equipment, Software, Office Space, Furniture, Phones, Other Assets

Below 500 USD reimbursable, Above 500 USD (Gross up) - Internal Fixed Asset Policy

Furniture

Below 500 USD reimbursable, Above 500 USD (Gross up) - Internal Fixed Asset Policy

Stationery

Reimbursable with receipts only for business purpose

Gifts

N/A

Coworking and Office Rentals

Day rent Reimbursable; monthly quaterly, yearly is Non Reinbursable and to be grossed up

Bank Charges

Bank or credit card fees, incurred as a result of delays by the employee claiming expenses, will not be reimbursed.

Foreign Currencies

Each employee is responsible for obtaining foreign currency required on international travel; commission charges for currency purchased on overseas travel will be reimbursed with supporting documentation.

Annual subscriptions

Upon supervisory approval one membership per employee, per association, where relative specifically to job role is reimbursable with supporting documentation.

Training Expenses

Employees shall be reimbursed for attending external training sessions provided the course/seminar is related to their duties and subject to prior approval by his or her supervisor. Such approval must be in written form.

Medical Claims/Health Check Up and related items/Medical Insurance

No issues, can be claimed as non-taxable as long as receipt is supplied should under our company name and address

Any “Personal Health Insurance Premium” claims under FRP must be grossed up

Exception and Other tpyes of expenses

N/A

Event expenses (trade shows/conferences)

N/A

Meals (travel/events/during work)

N/A

Di minimus expenses (Tips, no receipt)

N/A

Payroll Reporting

N/A

Additional Reporting

N/A

Review process

N/A