The Securities and Exchange Commission (SEC) of the Philippines has issued Memorandum Circular No. 9, Series of 2026, establishing the framework for the annual submission of reportorial requirements. This circular…
Understanding how to properly handle business expenses is a fundamental part of managing a company's finances. According to tax regulations, businesses can deduct certain expenses from their gross income. This…
The The Supreme Court has ruled that businesses registered with the Philippine Economic Zone Authority (PEZA) are not entirely exempt from paying Value-Added Tax (VAT). In Coral Bay Nickel Corporation…
A Simpler Way to Understand Big Changes in Reporting The International Accounting Standards Board (IASB) issued IFRS 18, Presentation and Disclosure in Financial Statements, on April 9, 2024. This new…
Revenue Memorandum Order No. 55-2022, issued on December 15, 2022, states that all field audit and other field operations of the BIR are hereby suspended for the period of December…
August 3, 2022 REVENUE MEMORANDUM CIRCULAR NO. 115-2022 issued on July 28, 2022 lifts the suspension on the issuance of Mission Orders insofar as authorizing Revenue Officers to conduct Tax…
July 1, 2022 REVENUE REGULATIONS NO. 6-2022 issued on June 30, removes the five-year validity period on receipts/invoices. The phrase "THIS INVOICE/RECEIPT SHALL BE VALID FOR FIVE (5) YEARS FROM…
All corporations are required to submit their annual reportorial requirements online hrough eFAST. Hard copies of reports submitted through eFASTwill no longer be required. All corporations, including branch offices, representative…
On this day three years ago, 23 February 2019, Republic Act No. 11232, otherwise known as the Revised Corporation Code of the Philippines, came into effect. The Revised Corporation Code…
Pursuant to Executive Order (EO) No. 98, series of 1998, persons whether natural or juridical, dealing with all government agencies and instrumentalities, including Government-Owned and/or Controlled Corporations (GOCCs), and all…