PIC Q&A 2020-06, Accounting for Payments Between and Among Lessors and Lessees

04 Feb 2021

This Accounting Alert is issued to circulate Philippine Interpretations Committee (PIC) Questions and Answers (Q&A) 2020-06 dated December 7, 2020 on accounting for payments between and among lessors and lessees in accordance with PFRS 16, Leases.

PIC Q&A 2020-07, Accounting for the Proposed Changes in Income Tax Rates under the CREATE Bill

04 Feb 2021

This Accounting Alert is issued to circulate Philippine Interpretations Committee (PIC) Questions and Answers (Q&A) 2020-07 dated January 29, 2021 on accounting for the proposed changes in income tax rates under the CREATE Bill.

Bicameral Conference Committee Report on the Proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE)

03 Feb 2021

This Tax Alert is issued to inform all concerned on the proposed amendments to the National Internal Revenue Code of 1997, as amended, under the proposed “Corporate Recovery and Tax Incentives for Enterprises Act” or CREATE Bill, as approved by the Bicameral Conference Committee of the House of Representatives and the Senate.

Updated filing guidelines for BIR Forms 1604C, 1604F and 1604E; submission of BIR Form 2316 without employee signature shall be accepted

02 Feb 2021

This Tax Alert is issued to inform all concerned taxpayers on the clarifications of certain issues and concerns in the filing of BIR Form Nos. 1604C, 1604F and 1604E and submission of BIR Form 2316 to the BIR.

Revised Guidelines on the Declaration and/or Distribution of Dividends for IC-Regulated Entities

01 Feb 2021

This Accounting Alert is issued to circulate Insurance Commission (IC) Circular Letter (CL) 2021-02 dated January 7, 2021 on the revised guidelines on the declaration and/or distribution of dividends of all IC-regulated entities.