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 Finance (DOF) announced on Monday, May 3, its plans to complete the passage of the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) bill by mid-2022.
The Bureau of Internal Revenue (BIR), in an advisory published on April 28, released the deadlines for the filing of amended Annual Income Tax Returns (AITRs) and required attachments in the electronically-filed AITR of the taxable period ending on December 31, 2020. The Bureau strictly reminds taxpayers the due dates for filing to avoid penalties.
Deputy Speaker Rufus Rodriguez calls the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) to extend the deadline for the filing of annual income tax return (AITR) by at least 30 days.
The Bangko Sentral ng Pilipinas (BSP) and the Department of Finance (DOF) expressed their support for a bill allowing the Philippine Development Insurance Corporation (PDIC) to flexibly adjust the maximum deposit insurance coverage in the Philippines.
The Department of Finance (DOF) announced on Thursday, February 25, the exemption of COVID-19 vaccine imports from tax and duties as the government rolls out the first batch of vaccines in the Philippines.
Senate Finance Chair Juan Edgardo Angara proposed a bill waiving the donor’s tax for any donation of drugs, vaccines, and other medical supplies specifically prescribed for the treatment of COVID-19 in the Philippines.