• The income of the working child shall belong to him or her

• The income or property of the working child shall be administered by both parents

• There should be a Trust Fund to preserve part of the working child’s income.

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• The penalty of imprisonment from six (6) months to four (4) years or a fine of not less than One hundred thousand Philippine pesos (Php100,000.00) but not more than Five hundred thousand Philippine pesos (Php500,000.00), or both, shall be imposed on a person who, knowing that a covered or suspicious transaction is required to be reported to the Anti-Money Laundering Council (AMLC), fails to do so.

• The penalty of imprisonment from six (6) months to one (1) year or a fine of not less than One hundred thousand Philippine pesos (Php100,000.00) but not more than Five hundred thousand Philippine pesos (Php500,000.00), or both, shall be imposed on a person convicted for failing to Keep Records.

• The imposition of the administrative sanctions shall be without prejudice to the filing of criminal charges against the persons responsible for the violation.

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• Constructive dismissal is defined as quitting or cessation of work because continued employment is rendered impossible, unreasonable or unlikely; when there is a demotion in rank or a diminution of pay and other benefits.

• Constructive dismissal exists if an act of clear discrimination, insensibility, or disdain by an employer becomes so unbearable on the part of the employee that it could

• The test of constructive dismissal is whether a reasonable person in the employee’s position would have felt compelled to give up his employment/position under the circumstances.

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• A credit or refund of taxes may be allowed only when a taxpayer files in writing a claim for credit or refund

• A written claim for tax credit or refund shall be filed within two (2) years after the payment of tax or penalty

• A Tax Credit Certificate is a document reflecting the amount due to a taxpayer from the overpayment or erroneous payment of taxes

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