Industry and Regulatory Updates

Updates on financial industry standards and tax regulations
BB 2025-01 APRIL 2025 ACCEPTANCE OF TAX RETURNS/PAYMENTS

BIR Bank Bulletin No. 2025-01, Authorized Agent Banks (AABs) will be implementing extended operations in April for accepting tax returns/payments in view of the upcoming Annual ITR 2024 deadline, as...

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SEC MC 17-2024 EXTENSION OF ECIP

Further to the earlier issued update on the Enhanced Compliance Incentive Plan (ECIP), the SEC has extended the deadline for application until December 31, 2024 per SEC MC No. 17, Series...

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RA NO. 12023 – VAT ON DIGITAL SERVICE PROVIDERS

The BIR issued RMC No. 126-2024, which announces the amendments on specific sections of RA No. 12023 or the National Internal Revenue Code of 1997 (the “Tax Code”), to impose...

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RMC No. 91-2024 – CLARIFICATION ON BIR REGISTRATIONS

Revenue Memorandum Circular (RMC) No. 91-2024 primarily focuses to clarify thru Question & Answer registration-related procedures provided under Revenue Regulations (RR) No. 7-2024, as amended by RR No. 11-2024. Key...

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FeaturedSEC MC 13-2024 | ECIP

The SEC has introduced the Enhanced Compliance Incentive Plan (ECIP) as outlined in Memorandum Circular No. 13, Series of 2024. Following the success of the 2023 Amnesty Program, this plan...

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FeaturedREGISTRATION OF PERSONS ENGAGED IN BUSINESS (RR No. 15-2024)

BIR has issued the RR No. 15-2024 to prescribe policies and guidelines in the mandatory registration of persons engaged in business, including brick-and-mortar stores and online trade or business pursuant...

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FeaturedMC 10-2024 eSECURE

SEC MC No. 10-2024 pertaining to the eSECURE system being introduced to enhance the security and efficiency of online transactions with the SEC.  eSECURE functions as a digital passport, granting...

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RMC No. 83-2024: TAX RETURNS/PAYMENT FORMS GENERATED FROM THE eONETT SYSTEM

The BIR issued RMC No. 83-2024 to inform the public that taxpayers who use the electronic one-time transaction (eONETT) system for electronic one-time transaction applications and pay their taxes manually...

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