Additional qualifications for accredited printers

07 Jun 2016

This Tax Alert is issued to inform all concerned that additional policies in the accreditation of printers engaged in the printing services of official receipts, sales invoices and other commercial receipt and/or invoices are newly provided.

Second Quarter Edition of IFRS News

02 May 2016

This Accounting Alert is issued to provide quarterly update on all things relating to International Financial Reporting Standards (IFRS). We begin this second edition of the year by looking at amendments made by the International Accounting Standards Board (IASB), including changes that have been made to IFRS 15, Revenue from Contracts with Customers. We also remind you of a couple of major pronouncements that some companies will be applying for the first time. We then go on to discuss two major Grant Thornton publications that have been issued in the last quarter. The first is designed to get you up to speed with the new expected credit loss model for financial instruments. The second one looks at how to make your financial statements an effective communication tool.

Application for PEZA VAT zero rating by email

26 Apr 2016

This Tax Alert is issued to remind all PEZA registered enterprises/ecozone developers/operators (PEZA enterprises) that issuance of VAT Zero rating certifications are to be filed through e-mail to further ease doing business with PEZA.

Revised policies on the execution of waivers

26 Apr 2016

This Tax Alert is issued to inform taxpayers of the revised procedures and policies for the proper execution of waivers from the defense of prescription pursuant to Section 222 of the National Internal Revenue Code (NIRC) of 1997 is revised. The revised policies aim to address rampant practice by taxpayers of contesting the validity of their own waivers after having availed of the benefits thereof.

Enforcement of R.A. No. 9510 over Financing Companies

26 Apr 2016

This Accounting Alert is issued to provide information about the recently released Memorandum Circular No. 3, Series of 2016, issued by the Securities and Exchange Commission (SEC) on the enforcement of Republic Act (RA) No. 9510, Credit Information System Act, over financing companies.