Industry and Regulatory Updates

Updates on financial industry standards and tax regulations
(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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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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