By: Ivan Marx Olarte, CPA The Securities and Exchange Commission (SEC) aims to maintain an organized filing of the Annual Financial Statements (AFS) pursuant to the authority granted by the Corporation Code and Securities Regulation Code. Recently, SEC issued Memorandum Circular (MC) No. 1-2019, which provides guidelines for the filing of the AFS and General Information Sheet (GIS). Submission of AFS SEC requires all registered corporations, including branch offices, representative offices, regional headquarters and regional operating - Read more
By: Ivan Olarte, CPA Recently, the House of Representatives approved House Bill 8095 mandating payment of 14th month pay to government and private employees. This is on top of the present 13th month pay the employees are receiving every December. Details of the Proposed Bill Under the proposed bill, the rules governing the 13th month pay shall also apply to 14th month pay. Hence, it carries the similar exemptions and requirements as the 13th month pay. As proposed by - Read more
- Revenue Regulation No. 20-2018 Prescribing the Implementing Rules and Guidelines on the Imposition of Excise Tax on Sweetened Beverages Pursuant to Section 47 of Republic Act No. 10963, otherwise know as the " Tax Reform for Acceleration and Inclusion (TRAIN) Law"
- Revenue Regulations No. 16-2018 Amending Revenue Regulations (RR) No, 10-2015 as amended by RR Nos. t2-201,5, 14-2015 and 6-2016 on the Use of Non-Thermal Paper for All Cash Register Machines (CRMs) / Point of Sales (POS) Machines and Other lnvoice / Receipt Generating Machine / Software
- Revenue Memorandum Order No. 23-2018 Prescribing Policies, Guidelines and Procedures in the Availment of the Eight Percent (8%) Income Tax Rate Option for Individuals Earning from Self-Employment and/or Practice of Professions
- REVENUE MEMORANDUM CIRCULAR NO. 32-2018 Circularizing the Availability of the Newly Revised BIR Form No. 1701Q (Quarterly Income Tax Return for Individuals, Estates and Trusts) January 2018 (ENCS)
- Revenue Memorandum Circular No. 26-2018 Circularizing the Revised BIR Form No. 2551Q (Quarterly Percentage Tax Return) January 2018 (ENCS)