Insights into PFRS 3 - Reverse Acquisitions Explained

15 Jul 2022

This Accounting Alert is issued to provide an overview of Philippine Financial Reporting Standards (PFRS) 3, Business Combinations, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact reporting entities.

Prescribed template for sworn declaration required from RBEs to avail VAT zero-rating now available

12 Jul 2022

This Tax Alert is issued to inform all concerned on the prescribed template for sworn declaration to be executed by Registered Business Enterprises (RBEs) for their local suppliers of goods and services to avail of the VAT zero-rating incentive.

Insights into PFRS 3 - The Acquisition Method

08 Jul 2022

This Accounting Alert is issued to provide an overview of Philippine Financial Reporting Standards (PFRS) 3, Business Combinations, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact reporting entities.

Implementation of electronic receipts/invoices and electronic sales data transmission required for identified taxpayers

01 Jul 2022

This Tax Alert is issued to inform all concerned on the implementation of the required issuance of electronic receipts or invoices in lieu of manual receipts or invoices for certain identified taxpayers, pursuant to Sections 237 and 237-A of the Tax Code, as amended by RA 10963 or the TRAIN Law.

Removal of 5-year validity period on receipts/ invoices

01 Jul 2022

This Tax Alert is issued to inform all concerned on the removal of the five (5)-year validity period on all manual and system generated principal and supplementary invoices and receipts in line with the “Ease of Doing business and Efficient Government Service Delivery Act of 2018”.