Around P50.7 million in subsidies has been voluntarily returned to the government by employees who are either no longer eligible to receive under the Small Business Wage Subsidy (SBWS) program or received excess amounts, according to Joselito Lambino, assistant secretary of Department of Finance (DOF).
Lambino, told Malaya Business Insight yesterday the said amount was the total returned as of June 15.
He also said the voluntary return period has been extended by 10 days, from June 15 to June 25.
“This amount, along with any excess funds from the program, will be used in other efforts of the government to fight COVID-19 (coronavirus disease 2019),” Lambino said in a Viber message.
“We understand the concerns of the employers and employees who want to voluntarily return the subsidy. In consideration of (those) who might have been experiencing difficulties in returning the subsidy… the SBWS Program Task Force decided to move the deadline for voluntary returns to June 25, 2020,” he added.
In its Facebook post last June 12, the Social Security System (SSS) noted who are required to return their SBWS subsidy, citing the DOF-SSS-Bureau of Internal Revenue Joint Memorandum Circular No. 001-2020, as amended, on the SBWS program.
Employers who fail to maintain the employment status of their employee beneficiaries within the original SBWS period of March 17, 2020, to May 31, 2020, must return to the government the SBWS amount granted to these employees.
Employee-beneficiaries who resign during the period when enhanced community quarantine or modified enhanced community quarantine is imposed in the region or local government unit where the place of business of his employer is found must also return the funds.