News and Updates
Welcome to our news and updates section!
Read the latest accounting and bookkeeping news and information here. In this section, we also post updates on the taxation system in the Philippines and its technicalities.
The Department of Human Settlements and Urban Development (DHSUB) appeals for the extension of the existing tax perk to purchase residential units worth ₱2 million and above for next year.
The Bangko Sentral ng Pilipinas (BSP) is planning to provide financing for micro, small, and medium-sized enterprises (MSMEs) that belong to the supply chains of larger businesses in the Philippines.
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 112-2020 clarifying the postponement of effectivity of the enlisted and delisted taxpayers of the Large Taxpayers Service (LTS) to January 1, 2021, relative to the memorandum released by the Bureau on September 21, 2020.
The Bureau of Internal Revenue (BIR) allows manufacturers and importers of COVID-19 essentials to enjoy fiscal incentives during the COVID-19 pandemic.
Local and foreign investors are seeking a five-year tax relief from the Senate Bill No. 1357, also known as the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), to give them time to recoup their losses during the COVID-19 pandemic.
The government’s tax collections from the Philippine Offshore Gaming Operators (POGOs) are declining as they close shops and leave the Philippines to escape its COVID-19 situation.