Industry and Regulatory Updates

Updates on financial industry standards and tax regulations
EXTENSION OF TRANSITION PERIOD FOR 2020 GIS FORM AND BOD PAGE FILING

SEC has extended the transitional use of the 2020 General Information Sheet (GIS) Form, including the Beneficial Ownership Declaration (BOD) Page, for filing through the eFAST system until July 31, 2026. This will allow...

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(RR 4-2026) Guidelines for the One-Time Abatement of Taxes and/or Penalties for Micro Taxpayers

BIR issued Revenue Regulation (RR) No. 4-2026 to provide qualified micro taxpayers with an opportunity to settle outstanding tax liabilities through a one-time abatement program. The regulation aims to help taxpayers resolve...

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(RMC 59-2026) Further Clarifications on the Implementation of VAT on Digital Services

BIR has issued Revenue Memorandum Circular (RMC) No. 59-2026 to further clarify Revenue Regulation (RR) No. 3-2025 implementing Republic Act (RA) No. 12023, which imposes VAT on digital services. Below are the key clarifications...

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(RMC 55-2026) Alphalist Submission Requirements for e-Marketplace Operators and DFSPs

BIR has issued Revenue Memorandum Circular (RMC) No. 55‑2026 dated May 26, 2026, which reminds all withholding agents, particularly Electronic Marketplace (e-marketplace) Operators and Digital Financial Services Providers (DFSPs), of their...

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(RMC 53-2026) Availability of BIR Taxpayer Portal for Large Taxpayers

BIR has issued Revenue Memorandum Circular (RMC) No. 53‑2026 dated May 26, 2026, announcing the pilot implementation of a new Taxpayer Portal, initially available to taxpayers registered under the Large Taxpayers Service...

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(RMC 39-2026) 2025 AITR – DEADLINE FOR SUBMISSION OF REQUIRED ATTACHMENTS

BIR has issued RMC No. 39-2026 to clarify and address numerous queries regarding the deadline for the submission of required attachments to the 2025 Annual Income Tax Returns (AITR). Accordingly,...

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EXTENSION OF FILING DEADLINE FOR 2025 ANNUAL FINANCIAL STATEMENTS

 SEC has issued a Notice dated April 14, 2026 extending the deadline for the filing of 2025 Annual Financial Statements (AFS) for corporations with fiscal year ending December 31, 2025. This is...

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RMO 6-2026 | Amendments, and Supplemental Guidelines to RMO 1-2026

BIR has issued RMO 6-2026, which provides amendments, supplemental procedures, and clarificatory guidelines for the implementation of RMO No. 1-2026. Key Highlights: EVENT FROM TO Deadline for filing written Requests for...

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