Thirteenth Month

Thirteenth Month

An accounting method that recognizes write-offs and unusual income in an artificially created 13th month. This allows an organization to consider the strength of its finances from ordinary operations in the other 12 months.
References in periodicals archive ?
* Prices charged for goods and services cut for thirteenth month running
"The pay for the thirteenth month is guaranteed, and a company has to pay it despite its bad numbers in a given year," Richterovaacute added.The average amount of the 13th salary has risen by 2 percent to euro949 gross, compared to 2017, and the average financial remuneration has gone up by 5 percent to euro959 gross, Hospodaacuterske noviny wrote.
Presidential Decree 851 otherwise known as Thirteenth Month Pay Law requires all employers to pay their employees with one month equivalent salary on or before December 24th every year.
Just to give an example, a call center agent with a 22,000 monthly salary with thirteenth month and a few bonuses currently have to pay 22,000 per year in taxes.
Gordon, "#323: Aviv Not Found, Thirteenth Month to Begin after Shabbat", Karaite Korner Newsletter (March 6, 2008).
New business increased for the thirteenth month in succession.
Bello observed that the RFA involved underpayment of wages, non-payment of over-time pay, holiday pay and thirteenth month pay, non-coverage of social protection benefits under SSS, Philhealth, and Pag-ibig, and illegal dismissal cases.
In the latest economic data reports, Chinese exports fell for the fifth straight month, down almost 7% from the previous year, despite multiple devaluations of its currency, and imports tumbled almost 9%, down for the thirteenth month in a row.
Munich: New car sales in Europe accelerated by 6.4 per cent in September, with data released yesterday showing the thirteenth month running of increases as a recovery in the market spreads across the continent.
"We generated enough revenue during those two weeks to add a thirteenth month to our year," he said.
This led companies to maintain their recent recruitment drives, with overall employment levels rising for the thirteenth month in a row, the survey said.