News & Updates

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.

BIR New Form No. 1709

22 Jul: BIR Releases New Form to Address Tax Leaks

The Bureau of Internal Revenue (BIR) released Revenue Regulations (RR) No. 19-2020 prescribing the utilization of the new BIR Form No. 1709, otherwise known as the Information Return on Related Party Transactions (Domestic and/or Foreign), which replaces BIR Form No. 1702H or Information Return on Transactions with Related Foreign Persons.

BIR Clearance Application POGO

16 Jul: BIR Revises Guidelines and Requirements on BIR Clearance Application of POGO Licensees and Service Providers

The Bureau of Internal Revenue (BIR) releases Revenue Memorandum Circular (RMC) No. 64-2020 indicating revisions on guidelines and requirements of Philippine Offshore Gaming Operator (POGO) Licensees and Service Providers in applying for BIR clearance. The compliance for BIR clearance application is substantial for POGO Licensees and Providers to secure the resumption of their operations in the Philippines.