DOF starts distribution of first tranche of wage subsidy for small biz workers

The Department of Finance (DOF) said Friday it has already begun distribution of the first tranche of the P 51-billion wage subsidy program for middle class workers employed by small businesses affected by the COVID-19 crisis.

“In fact po, nag-umpisa na po ang pag-distribute kahapon. One day, in advance,” Finance Assistant Secretary Tony Lambino said in an interview on Dobol B sa News TV.

“Nag-transmit na po through various bank accounts kasama ang mga remittance options. Nag-umpisa po ‘yan kahapon at tuloy-tuloy ang first round hanggang May 15,” Lambino said.

Coming in tranches, the government will provide a wage subsidy of P5,000 to P8,000 per eligible worker based on the monthly regional minimum wage.

The first tranche of payout will be from May 1 to 15, 2020 while the second tranche will be from May 16 to 31, 2020.

The DOF has extended the application period for the Small Business Wage Subsidy (SBWS) program until May 8. 

The original application period was from April 16 to 30, 2020, but due to technical issues with the Social Security System’s (SSS) website the deadline has been extended.

For the step-by-step process, click on this link. --Ted Cordero/KBK, GMA News