The Fiscal Incentives Review Board has approved a temporary increase in the work-from-home limit to 90% for businesses in economic zones, allowing firms to sustain operations and manage rising costs amid energy supply challenges. The policy aims to support business…
The deadline for filing 2025 income tax returns has been extended to May 15, 2026, giving taxpayers more time to properly complete their filings and submit required documents without penalties or surcharges. The move also allows individuals to file and…
Procedures for availing tax incentives on education partnerships have been clarified to simplify compliance for private sector participants supporting education and workforce development programs. In Revenue Memorandum Circular No. 23-2026, the Bureau of Internal Revenue (BIR) outlined clearer guidelines on…
The Bureau of Internal Revenue (BIR) clarified that cross-border services, including IT outsourcing and consulting, are not automatically subject to income tax, easing concerns among multinational firms following earlier interpretations of tax rules. In Revenue Memorandum Circular No. 24-2026, the…
BIR issues guidelines for 2025 annual income tax filing. Under Revenue Memorandum Circular No. 20-2026, the Bureau of Internal Revenue provides the procedures for filing Annual Income Tax Returns (AITR) and paying the corresponding taxes due for Calendar Year 2025,…
Accountability in public service requires timely and accurate disclosure of assets, liabilities, and net worth. Filing the SALN remains a continuing duty of government officials and employees to uphold transparency and ethical standards. Through Revenue Memorandum Order No. 5-2026, the…
The Bangko Sentral ng Pilipinas (BSP) has eased compliance for businesses by doubling the cash withdrawal threshold that triggers enhanced due diligence from ₱500,000 to ₱1 million. The move aims to streamline routine operations such as payroll disbursements, loan releases,…
Compliance is not just a requirement. It is a responsibility every One Person Corporation must consistently uphold. Through SEC Memorandum Circular No. 10, Series of 2026, the Securities and Exchange Commission formalizes clearer guidelines on how OPCs should fulfill their…
The Bureau of Internal Revenue (BIR) warned that officials and personnel found to have abused the issuance of Letters of Authority (LOA) for alleged extortion will be held accountable, as 25 out of 30 employees under investigation have already been…
BIR scored a major victory in its crackdown on ghost corporations after a Quezon City court convicted two officers of Decarich Supertrade, Inc. for supplying false information in the company’s VAT return for the first quarter of 2021. The firm…