Advisories on the extension of deadline of filing and payment of tax returns falling due during the ECQ/MECQ periods

24 Sep 2021

This Tax Alert is issued to inform all concerned taxpayers on the clarifications regarding the extension of deadline of filing and payment of tax returns falling due within the Enhanced Community Quarantine (ECQ)/Modified Enhanced Community Quarantine (MECQ) periods.

Extended deadline for filing of VAT refund claims with VCAD falling due on September 30, 2021; suspension of the 90-day processing period

24 Sep 2021

This Tax Alert is issued to inform all concerned taxpayers on the extension on filing deadline of VAT refund with the VAT Credit Audit Division (VCAD) originally due on September 30, 2021 and the suspension of the 90-day processing period.

SEC MC No. 8-2021, Amendments to Transitory Provisions of Pronouncements on the Implementation of PFRS 15 by Real Estate Companies

21 Sep 2021

This Accounting Alert is issued to circulate Securities and Exchange Commission (SEC/Commission) Memorandum Circulars (MC) No. 8-2021 dated July 8, 2021 on the amendment to SEC MC No. 14-2018, SEC MC No. 3-2019, SEC MC No. 4-2020, and SEC MC No. 34-2021 to clarify transitory provision.

Insights into PAS 36, Impairment of Assets - If and When to Undertake Impairment Review

08 Sep 2021

This Accounting Alert is issued to provide an overview of Philippine Accounting Standards (PAS) 36, Impairment of Assets, to assist preparers of financial statements and those charged with governance of reporting entities in understanding the requirements of PAS 36, and to revisit some areas where confusion has been seen in practice.

Insights into PAS 36, Impairment of Assets - Scope and Structure

06 Sep 2021

This Accounting Alert is issued to provide an overview of Philippine Accounting Standards (PAS) 36, Impairment of Assets, to assist preparers of financial statements and those charged with governance of reporting entities in understanding the requirements of PAS 36, and to revisit some areas where confusion has been seen in practice.