News & Updates
Read more about the latest news and updates on the industry policies and upcoming deadlines to ensure up-to-date coverage.
Electronic Simplified Processing of Application for Registration of Company (SEC – ESPARC)
The Securities and Exchange Commission (SEC) has launched a new company registration system called the Electronic Simplified Processing of Application for Registration of Company (eSPARC) to make corporate registration in
Sole Proprietorship vs. One Person Corporation (OPC)
The One Person Corporation (OPC) and Sole Proprietorship may sound similar but they have unique provisions, exceptions, and structure that only applies to each one. Below you’ll find a table
Post Clearance Audit and Prior Disclosure Program
Post Clearance Audit Within three (3) years from the date of final payment of duties and taxes or customs clearance, the Bureau of Customs, through Post Clearance Audit Group (PCAG),
Update on the list of TWAs for Creditable Withholding Tax
With the newly prescribed criteria in identifying the Top Withholding Agents (TWA) of each Revenue District Office (RDO) under Revenue Regulations (RR) No. 31-2020, Circular 88-2021 is issued to circularize
Extension of Deadlines on Letters or Correspondence
Due to the declaration of ECQ and MECQ in NCR and other areas of the country, the BIR has issued Revenue Memorandum Circular (RMC) No. 92-2021 which extends the deadline
New Rule on Withholding Tax on Sale to Government
One of the changes brought by the Tax Reform for Acceleration and Inclusion (TRAIN) Act is the amendment to National Internal Revenue Code (NIRC) Section 114(C) on the treatment for