Industry and Regulatory Updates

Updates on financial industry standards and tax regulations
(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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(RMC 14-2026) Clarifications on Audit Suspension and Implementation of Revised Audit Procedures

BIR has issued Revenue Memorandum Circular (RMC) No. 14‑2026 dated March 04, 2026, clarifying provisions of RMC No. 08‑2026 (lifting of suspension of tax audits), RMO No. 01‑2026, and RMO No. 06‑2026...

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AUDIT ADVISORY 2026-03: 2026 FILING OF AFS AND GIS

The SEC has issued MC No. 9, Series of 2026, covering the 2026 filing of Annual Financial Statements (AFS) and General Information Sheet (GIS) . The Circular prescribes the deadlines, submission...

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RR 1-2026 AMENDMENTS ON SECTIONS 3, 4 AND 7 OF RR 9-2025

BIR has issued Revenue Regulation (RR) No. 1-2026, which amends the provisions of Sections 3, 4 and 7 of RR No. 9-2025 to clarify manner of filing and payment of VAT...

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RMC 10-2026 CLARIFICATION ON THE TAX IMPLICATIONS OF CASH DONATION

BIR has issued RMC No. 10-2026, which clarifies the tax treatment, documentation requirements, and filing and payment procedures for donor’s tax on donations made purely in cash. Key Highlights:

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RMC 8-2026 & RMO 1-2026 – RESUMPTION OF TAX AUDITS AND UPDATED AUDIT GUIDELINES

BIR issued RMC No. 8-2026 to resume audit and related field operations following the completion of review of audit policies, procedures and internal control mechanisms. The resumption of tax audit and related...

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UPDATE ON BENEFICIAL OWNERSHIP REPORTING

SEC has issued a Notice regarding the launch of the Hierarchical and Applicable Relations and Beneficial Ownership Registry (HARBOR). Effective 30 January 2026, all Beneficial Ownership Declaration (BOD) pages will no...

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 RMC 06-2026 – EXTENSION OF DEADLINE FOR VAT FILING & PAYMENT BY NRDSPs

BIR issued RMC No. 006-2026, extending the deadline for the filing and payment of VAT by Nonresident Digital Service Providers (NRDSPs) due to technical issues with the VAT on Digital...

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