Langbayan Accounting and Management Services

BIR Revenue Memorandum Circular 089-2026 extends the deadline for the filing and payment of taxes due thereon until August 17, 2026 for those affected by the continuous rainfall brought by the Southwest Monsoon.

BIR Revenue Memorandum Circular No. 039-2206, clarifies the deadline for the submission of required attachments to the 2025 annual income tax returns.

BIR Revenue Memorandum Circular No. 030-2026 extends the deadline for the filing, payment and submission of annual income tax return for the year 2025 from April 15, 2026 to May 15, 2026.

SEC Memorandum Circular No. 10 dated 16 February 2026 provides new guidelines for One Person Corporations (OPC) reportorial compliance with the Commission.

What are deductible expenses that can be included in your tax return?

De Minimis Benefit reforms per BIR RR 29-2025

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GOOD NEWS FOR EMPLOYERS & EMPLOYEES!

Pursuant to the issuance of BIR Revenue Regulations No. 29-2025, the non‑taxable thresholds for several De Minimis Benefits was increased effective January 6, 2026.

The new thresholds give employers greater flexibility to expand tax‑free employee benefits, while allowing employees to retain more of their earnings through higher take‑home pay.

SEC Memorandum Circular No. 4, series of 2026 dated January 20, 2026 prescribes the adjustment of the audit threshold for both stock and non-stock corporations under the revised SRC Rule 68 to above P3 million in total assets or total liabilities to cover financial statements as of December 31, 2025 and onwards.