Available Tax Relief during the state of national emergency due to COVID-19 (as of April 16, 2020)

16 Apr 2020

This Tax Briefer is prepared to inform all concerned taxpayers on the available tax relief/ exemptions during the period of state of national emergency due to COVID-19 as provided in the Bayanihan to Heal as One Act (RA 11469), and implemented in RR Nos. 06 – 10, 2020, RMO No. 10-2020, RMC Nos. 35, 36, 38, 39, and 41, series of 2020 and CAO No. 07-2020.

Tax Filing and Payment guidelines during the extended enhanced community quarantine period (updated as of April 15, 2020)

16 Apr 2020

This Tax Briefer is prepared to guide and assist taxpayers in their filing and payment of tax returns and other submissions to the BIR during the extended enhanced community quarantine (ECQ) /state of national emergency period.

Reporting the Impact of COVID-19 to your Business

08 Apr 2020

This accounting alert is issued to highlight ten questions entities should be asked to ensure that financial statements not yet issued are presented fairly.

Guidelines on Reclassification of Debt Securities Measured at Fair Value to the Amortized Cost Category for Prudential Reporting to the BSP

08 Apr 2020

This accounting alert is issued to circulate the guidelines governing the reclassification of debt securities that are measured at fair value to the amortized cost category as part of the relief measures extended by the BSP in managing the financial impact of the corona virus disease 2019 (COVID-19) pandemic.

Treatment of Net Unrealized Losses in the EFCDU/FCDU Book for Purposes of Determining Compliance with the EFCDU/FCDU Asset Cover Requirement

08 Apr 2020

This accounting alert is issued to circulate the guidelines for the alternative treatment of net unrealized losses arising from marking-to-market of financial assets/liabilities and revaluation of third currencies to US dollar of assets in the Expanded Foreign Currency Deposit Unit/Foreign Currency Deposit Unit (EFCDU/FCDU) book for purposes of determining compliance with the EFCDU/FCDU asset cover requirement, in accordance with Bangko Sentral ng Pilipinas (BSP) Memorandum No. 2020-023.