The Search for the Outstanding Accounting Students of the Philippines (SOASP) continues on its 28th year as P&A Foundation, Inc. the Philippine Institute of Certified Public Accountants (PICPA), and the Association of Certified Public Accountants in Commerce and Industry (ACPACI) formalized their partnership through the signing of the Memorandum of Agreement (MoA).
Like most of you, I am deeply concerned about the present bad state of our country today. This feeling draws me to collect my thoughts about this sad condition, and I decided to express them in this commentary.
The Philippine Atmospheric, Geophysical and Astronomical Services Administration’s (PAGASA) latest monitoring shows that a strong to very strong El Niño is already present in the tropical Pacific, may peak before the end of 2026, and is expected to continue through the first half of 2027.
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 112-2026, clarifying the implementation of Revenue Regulations (RR) No. 006-2026 regarding the separate presentation of Creditable Withholding Tax (CWT) in sales invoices.
A refund claim can take five to six years from the time the claim is filed with the Bureau of Internal Revenue (BIR), to the CTA, to the Supreme Court, and then back to the BIR.
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