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BIR Issues RMC No. 020-2026: Guidelines on Filing Annual Income Tax Returns for CY 2025

The Bureau of Internal Revenue (BIR) has officially released Revenue Memorandum Circular (RMC) No. 020-2026, dated March 16, 2026, providing updated guidelines for filing Annual Income Tax Returns (AITR) and payment of taxes for Calendar Year 2025.

This circular aims to streamline compliance under the Ease of Paying Taxes (EOPT) Act, encouraging taxpayers to use the BIR’s electronic filing and payment platforms.

📌 Key Highlights

🔹 Deadline of Filing
Taxpayers must file their Annual Income Tax Return (AITR) for CY 2025 on or before April 15, 2026.

🔹 Electronic Filing Platforms
Taxpayers are reminded to file through the following BIR systems:

• eFPS (Electronic Filing and Payment System) – for mandated or enrolled taxpayers
• Offline eBIRForms Package v7.9.5 – for non-eFPS taxpayers
• Tax Software Providers (TSPs) certified by the BIR

🔹 Accepted BIR Forms for AITR Filing

• BIR Form 1700 – Individuals earning purely compensation income
• BIR Form 1701 / 1701A – Self-employed individuals and professionals
• BIR Form 1702-RT / 1702-EX / 1702-MX – Corporate taxpayers

🔹 Electronic Payment Channels
Taxes due may be paid through various ePayment gateways, including:

• Landbank Link.Biz Portal
• UnionBank Online Payment Facility
• DBP PayTax Online
• MyEG and MAYA digital platforms

🔹 Submission of Attachments
Attachments such as AFS, Notes to Financial Statements, BIR Form 2307, SAWT, and other required documents must be submitted through the BIR Electronic Audited Financial Statements (eAFS) system within 15 days from the filing deadline.

🔹 Relief for Micro and Small Taxpayers
The circular also clarifies procedures for micro and small taxpayers, including guidance on the use of BIR Form 1701-MS and options for electronic filing using 1701 or 1701A.

✅ Reminder:

Taxpayers are encouraged to prepare early, ensure accurate reporting, and submit required attachments through the proper electronic channels to avoid penalties and filing delays.

SEC Allows Temporary Use of 2020 GIS Form for Urgent Filings

The Securities and Exchange Commission (SEC) announced a temporary measure allowing corporations to use the 2020 version of the General Information Sheet (GIS) for urgent filings through the Electronic Filing and Submission Tool (eFAST).

This temporary arrangement applies to corporations that are still setting up or restoring access to their eSECURE accounts, which are required for entry to the HARBOR (Hierarchical and Applicable Relations and Beneficial Ownership Registry) system.

Under this advisory:

✔ Corporations may temporarily file their GIS using the 2020 form via eFAST
✔ The measure is intended to help companies comply with reportorial requirements while completing their HARBOR setup
✔ This transitional arrangement is valid only until April 15, 2026

Starting April 15, 2026, the SEC will require the use of the 2026 GIS version, which integrates the updated reporting framework and includes the Beneficial Ownership Declaration through the HARBOR system.

Corporations experiencing issues with eSECURE, HARBOR, or eFAST access may coordinate with the SEC Public Assistance and Complaints Desk or visit the nearest SEC office for assistance.

The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Order (RMO) No. 007-2026 implementing energy efficiency and conservation measures across its offices, following the directive of the Office of the President through Memorandum Circular No. 114.

Here’s what taxpayers and BIR stakeholders should know:

🔹 4-Day Workweek for BIR Employees
BIR personnel will work Monday to Thursday (8:00 AM – 5:00 PM) with Work-From-Home (WFH) every Friday, as part of government efforts to conserve energy. However, frontline services will remain operational to ensure uninterrupted taxpayer services.

🔹 Frontline Services Will Continue
Revenue District Offices (RDOs), Revenue Regions, and the Large Taxpayers Service are directed to ensure that taxpayer assistance, filing, and payment services remain fully available even with the flexible work arrangements.

🔹 More Online Transactions Encouraged
Taxpayers are strongly encouraged to use BIR digital platforms such as eFPS, eBIRForms, eAFS, eSubmission, and ORUS for filing returns, paying taxes, and submitting documents.

🔹 Energy-Saving Measures in BIR Offices
The order also includes measures such as:
• Reduced use of service vehicles on Fridays
• Limiting official travel to essential activities
• Reducing air-conditioning and lighting usage
• Encouraging employees to minimize electricity consumption and improve energy efficiency in government facilities.

📌 Effectivity:
The order took effect on March 9, 2026 and will remain in place until lifted or modified by the President.

💬 Bottomline:
While the BIR adopts energy-saving initiatives, taxpayers can still expect continuous services, especially through online platforms, as the government pushes for both sustainability and digitalization in tax administration.

The Bureau of Internal Revenue (BIR) has released Revenue Memorandum Order (RMO) No. 006-2026, providing amendments and supplemental guidelines to improve the implementation of RMO No. 1-2026, particularly on the consolidation of tax audit cases and the use of Electronic Letters of Authority (eLA).

Key Highlights

🔹 Extended Deadlines
Several deadlines related to requests for non-consolidation of VAT audit cases and consolidation of pending eLAs have been adjusted to give taxpayers and BIR offices more time to comply.

🔹 Clear Rules on Case Consolidation
The BIR clarified when audit cases may or may not be consolidated. Consolidation is not allowed if:
• The case already reached the Final Decision on Disputed Assessment (FDDA) stage
• A Final Assessment Notice (FAN) has already become final and executory
• Cases are at different procedural stages that may delay resolution

🔹 Limited Consolidation at FAN Stage
Consolidation may be allowed at the FAN stage only under strict conditions, such as:
• The FAN is properly served
• The protest period is still running or a protest has been filed
• Required safeguards and procedures are followed

🔹 Mandatory Safeguards
Before consolidation can occur, taxpayers must provide:
• Written conformity to consolidation
• Waiver of prescription, when necessary
• Proper issuance of consolidated NOD, PAN, or FAN that supersedes previous notices.

🔹 VAT Refund Processing Transition
During the transition period for VAT Audit Sections and the Large Taxpayers VAT Audit Unit:
• New VAT refund applications will be accepted only until March 31, 2026
• Pending VAT refund applications may be processed until May 29, 2026.

Why This Matters?

The new order aims to standardize audit procedures, prevent delays, and ensure proper due process for taxpayers while streamlining BIR audit operations.

For taxpayers and businesses, understanding these updated procedures is crucial, especially for those undergoing tax audits, VAT refund claims, or assessment disputes.

BIR Issues New Guidelines on Filing of SALN for Revenue Officials and Employees

The Bureau of Internal Revenue (BIR) has released Revenue Memorandum Order (RMO) No. 005-2026, introducing revised policies, guidelines, and procedures in the filing and submission of the Statement of Assets, Liabilities, and Net Worth (SALN) for all BIR officials and employees.

According to the order dated December 12, 2025, the new guidelines align with the Civil Service Commission’s updated rules on SALN and aim to strengthen transparency, accountability, and integrity in public service.

Key Highlights of the New RMO

🔹 Mandatory SALN Filing
All BIR officials and employees must file their SALN on or before March 15 of every fiscal year with their respective Review and Compliance Committee (RCC).

🔹 Standardized SALN Format
Employees must use the latest SALN Form (2025 version) and ensure all pages are signed, properly paginated, and free from erasures or unnecessary markings.

🔹 Special Rules for Employees
• Newly hired employees must submit their SALN within 30 days from assumption of office.
• Retiring or separating employees must file their SALN within 30 days after separation from service.

🔹 Creation of Review and Compliance Committees (RCC)
Each office must establish an RCC responsible for reviewing the completeness, accuracy, and compliance of SALN submissions before forwarding them to the appropriate offices.

🔹 Submission Process and Documentation
Offices must submit both hard and electronic copies of SALN documents along with required annexes such as certification from RCC, alphabetical list of employees, and summary of filers.

Deadlines for Submission

• March 15 – Filing of SALN by employees
• April 15 – Submission by Heads of Office to Personnel Division/AHRMD
• April 30 – Consolidated submission to the Personnel Division
• June 30 – Final submission to the Civil Service Commission and Department of Finance

Penalties for Non-Compliance

Failure to file or properly accomplish the SALN may result in administrative sanctions, including:
• First offense: Suspension from 1 month and 1 day to 6 months
• Second offense: Dismissal from the service

The new order will take effect starting SALN Fiscal Year 2025 and onwards, reinforcing the government’s commitment to ethical governance and financial transparency among public officials.

CDA ADVISORY: PHASED IMPLEMENTATION OF MC 2025-12
RE: FINANCIAL PERFORMANCE STANDARDS FOR COOPERATIVES ENGAGED IN LENDING THRU ENHANCED PESOS

Excel-Based Enhanced PESOS Tool:

https://docs.google.com/spreadsheets/d/1BtlS8-M0ZlRJAkxuw58BaAiFfZdChE-cc1OjJNAtqQ0/edit?fbclid=IwY2xjawQQ3pZleHRuA2FlbQIxMABicmlkETFQYWYwbEZkYmJqMjh3SlBkc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHq5mruxMytWmm9iw6r_NgcRscHsm4YXLjLnNTwpC9CKU31D4BCobf-_5f1nb_aem_FRpx93cSYo7t7A-xJkdw7A&gid=845542085 =845542085

The Cooperative Development Authority (CDA) has released an advisory on the phased implementation of MC 2025-12, covering the Financial Performance Standards for Cooperatives Engaged in Lending through the Enhanced PESOS framework.

Under the advisory, full adoption of the Enhanced PESOS system will officially take effect beginning Calendar Year (CY) 2026. However, during the transition period, cooperatives are not yet required to submit reports using the actual Enhanced PESOS Tool.

To support early alignment, the CDA encourages lending cooperatives to use the prescribed Excel-based Enhanced PESOS Tool for internal monitoring and performance assessment for FY 2025.

Importantly, Section 7 of MC 2025-12 remains enforceable. This means that cooperatives must incorporate their computed Enhanced PESOS Rating in their Audited Financial Statements as part of the Notes to Financial Statements.

The Enhanced PESOS Rating provides both a numerical score and an adjectival rating (e.g., Fair), offering stakeholders a clearer picture of a cooperative’s financial health, risk exposure, and operational soundness.

The advisory was approved pursuant to CDA Board Resolution No. 51, S-2026, and issued on February 26, 2026.

Cooperatives are advised to review and align their internal systems, policies, and procedures in preparation for full implementation.

BIR Revenue Memorandum Circular No. 013-2026

In a recent issuance, the Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) No. 013-2026, formally circularizing Republic Act No. 12312 — a law that bans and declares illegal offshore gaming operations in the Philippines and related activities.

The new law also repeals Republic Act No. 11590, previously known as the “Act Taxing Philippine Offshore Gaming Operations (POGOs).” This signals a major policy shift, as offshore gaming operations that were once regulated and taxed are now officially prohibited.

Signed on October 23, 2025, the law aims to strengthen regulatory enforcement and align national policies concerning offshore gaming activities. The BIR has directed all internal revenue officials and concerned parties to give the circular the widest possible dissemination.

With this development, the Philippines takes a firm stance against illegal offshore gaming operations, reinforcing its commitment to lawful and transparent economic activities.

SEC MC No. 12, series of 2026

GUIDELINES ON THE ISSUANCE AND DISCLOSURE OF SUKUK

The Securities and Exchange Commission (SEC) has formally issued Memorandum Circular No. 12, Series of 2026, establishing the country’s first comprehensive guidelines on the issuance and disclosure of Sukuk

Sukuk, often referred to as Islamic bonds, are financial instruments structured in compliance with Shari’ah (Islamic law). Unlike conventional bonds that earn interest, Sukuk generate returns from underlying assets or business activities and prohibit elements such as interest (riba), gambling, and excessive uncertainty.

Under the new circular, companies intending to issue Sukuk must comply with strict transparency, governance, and disclosure standards. Eligible issuers include Special Purpose Entities (SPEs), publicly listed companies, non-listed stock corporations, and certain government entities.

A key requirement is the appointment of a Shari’ah Advisor or Shari’ah Committee to certify that the structure and transactions adhere to Islamic finance principles. Issuers must also submit ongoing compliance reports and disclose any material Shari’ah-related issues.

The guidelines further mandate detailed disclosures covering the Sukuk structure, underlying assets, risk factors, payment sources, and enforcement mechanisms. A credit rating from an SEC-accredited agency is also required.

The SEC said the move aims to support the development of Islamic finance in the Philippines, promote financial inclusion, and align the country with global Islamic capital market standards.

With these rules now in place, the Philippines takes a significant step toward expanding alternative financing options and attracting broader investor participation.

SEC MC No. 11, series of 2026

MINIMUM PUBLIC OWNERSHIP RULES FOR ISSUERS OF SHARES OF STOCK TO BE LISTED ON AN EXCHANGE

The Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 11, Series of 2026, introducing updated rules on the minimum public ownership (MPO) required for companies planning to go public.

The new policy adopts a tiered system, meaning the percentage of shares that must be owned by the public now depends on the company’s size at the time of listing.

Under the revised framework:

Companies valued at ₱500 million and below must offer at least 33% to the public.

Those valued between ₱500 million to ₱1 billion must have 25% public ownership.

Firms worth ₱1 billion to ₱50 billion are required to float 20%.

Large corporations exceeding ₱50 billion need only 15% public ownership.

For exceptionally large companies (₱200 billion and above), the exchange may allow a lower public float — but never below 12%.

Post-listing, companies must continue maintaining minimum public ownership (20% for firms below ₱50B, and 15% for those above). If the level falls short, firms are given six months to correct the deficiency.

The SEC says the move aims to strike a balance between encouraging more IPOs in the Philippines and protecting investors, especially amid declining IPO activity and shifting market conditions.

The updated rules take effect immediately after publication.

SEC ADVISORY

This ADVISORY is prompted by reported violations committed by individuals and/or entities in the creation of an eSECURE Account.