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…
The Bureau of Internal Revenue (BIR), through Revenue Memorandum Order 1-2026, has prohibited tax examiners and taxpayers from conducting audits and assessments of accounting records in restaurants, cafes, and other public places. Commissioner Charlito Martin R. Mendoza ordered that tax…
The Marikina City government approved an ordinance granting a 100 percent local tax exemption for qualified sari-sari stores and carinderias in 2026, provided they do not sell alcohol or cigarettes. The city also approved a full amnesty on interests and…
BIR rolls out the LOA Verifier for tax audits. Under Revenue Memorandum Circular No. 5-2026, the Bureau of Internal Revenue introduces the Letter of Authority (LOA) Verifier, allowing taxpayers to confirm the validity of issued LOAs and ensure that tax…
The Bureau of Internal Revenue is expected to lift the suspension on tax audits within the first quarter, allowing the issuance of Letters of Authority to resume after months of review. Officials said the restart will come with tighter safeguards,…