BIR prior approval on VAT zero-rating of qualified purchases of Registered Export Enterprises (REEs) no longer required

04 May 2023

This Tax Alert is issued to inform all concerned on the amendments on the VAT rules applicable to Registered Export Enterprises (REEs) pursuant to Revenue Regulations (RR) No. 16-2005, as amended by RR No. 21-2021, implementing Sections 294(E) and 295(D), Title XIII of the Tax Code as amended by Republic Act No. 11534, also known as the CREATE Act and its Implementing Rules and Regulations.

List of Companies Eligible for Securities and Exchange Commission Amnesty Program

20 Apr 2023

This Accounting Alert is issued to circulate the link to the List of Companies Eligible for the Amnesty Program of the Securities and Exchange Commission (SEC or the Commission).

Clarifications on the penalty for non-compliance by RBEs to WFH threshold

28 Mar 2023

This Tax Alert is issued to inform all concerned on the clarification issued by the Fiscal Incentives Review Boards (FIRB) regarding the correct basis of the penalty imposed to Registered Business Enterprises (RBEs) engaged in Information Technology and Business Process Management (IT-BPM) for non-compliance to the work from home (WFH) threshold prescribed by FIRB Resolution No. 17-22, as extended by FIRB Resolution No. 26-22.

PIC Q&A No. 2022-04 PFRS 9 Business Model Assessment Practical Issues

27 Mar 2023

This Accounting Alert is issued to circulate Philippine Interpretations Committee (PIC) Questions and Answers (Q&A) No. 2022-04 PFRS 9 Business Model Assessment Practical Issues dated January 12, 2023.

SEC MC No. 2-2023: Grant of Amnesty for Non-Filing and Late Filing of GIS and AFS, and Non-Compliance with Memorandum Circular No. 28, S. 2020

24 Mar 2023

This Accounting Alert is issued to circulate Securities and Exchange Commission (SEC or the Commission) Memorandum Circular No 02 (MC/the Circular) series of 2023 dated March 16, 2023.