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.

Deadline of filing and submission of BIR Forms 1604C and 1604F, together with annual alphalist of employees/payee, and quarterly alphalist of payees, extended to February 28, 2021

29 Jan 2021

This Tax Alert is issued to inform all concerned on the extension of deadline of filing and submission of BIR Forms 1604C and 1604F and certain alphalist attachments.

Regulatory Relief on the Non-imposition of Sanction for Breach in Single Borrower's Limit by Certain Foreign Bank Branches

19 Jan 2021

This Accounting Alert is issued to circulate Bangko Sentral ng Pilipinas (BSP) Memorandum No. M-2021-002 dated January 4, 2021 on the regulatory relief on the non-imposition of sanction for breach in single borrower's limit (SBL) by foreign bank branches established prior to Republic Act (R.A.) No. 10641 or the Foreign Bank Entry Liberalization Act.