Kerwin C. Aguilar, CPA

SEC Notice: EXTENSION OF THE DEADLINE FOR FILING OF 2025 ANNUAL FINANCIAL STATEMENTS (AFS)

BIR Update: Revenue Memorandum Circular (RMC) No.30-2026

Extension of the deadline for the Filing of 2025 Annual Income Tax Returns and Payment of the Corresponding Taxes Due Thereon Including Submission of Required Attachments

SEC Update: SEC Memorandum Circular (MC) No. 13, series of 2026
FURTHER SUPPORTING THE GROWTH AND EXPANSION OF MICRO, SMALL, AND MEDIUM-ENTERPRISES (MSMES) BY EXTENDING DISCOUNTED RATES FOR CERTAIN FILING FEES

The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 20-2026 whichs provides the following guidelines for filing 2025 Annual Income Tax Returns (AITR) and paying corresponding taxes by April 15, 2026:
Filing Platforms: Taxpayers should use the Electronic Filing and Payment System (eFPS) if mandated, or the Offline eBIRForms Package v7.9.5 for non-eFPS and "No Payment" returns. Certified Tax Software Providers (TSPs) are also authorized for specific returns.
Proof of Filing: A Filing Reference Number (FRN) or Tax Return Receipt Confirmation (TRRC) serves as proof of filing; manual "Received" stamps are not required. eBIRForms users should keep a screenshot of the submission confirmation as additional proof.
Payment Options: Taxes must be settled through eFPS, ePayment gateways (such as LandBank Link.Biz, UnionBank Online, or DBP PayTax), or e-wallets like Maya.
Micro and Small Taxpayers: These individuals may manually file and pay using BIR Form No. 1701-MS since it is not yet available in electronic systems. Alternatively, they can use electronic Forms 1701 or 1701A with only minimum required fields.
Submission of Attachments: Required documents must be submitted electronically via the Electronic Audited Financial Statement (eAFS) system within 15 days of the filing deadline.
No Penalties for Wrong Venue: No penalties will be imposed for filing at the wrong venue. Additionally, Micro and Small Taxpayers will not face penalties if they filed electronically using Forms 1701/1701A or manually via Form 1701-MS.
Support Services: BIR eLounge facilities at Revenue District Offices (RDOs) are available to assist taxpayers with electronic filing, with priority given to senior citizens, persons with disabilities, and those without internet access.
Source: BIR website

SEC News: SEC SEEKS TO RAISE ONE PERSON CORPORATIONS’ COMPLIANCE THROUGH NEW GUIDELINES.

BIR Update: Revenue Regulations (RR) No. 1-2026 amends Sections 3, 4, and 7 of RR No. 9-2025 to clarify filing and payment rules for VAT on local sales, provide optional value-added tax (VAT) registration for certain Registered Business Enterprises (RBEs), extend the deadline for system reconfiguration, and exclude certain enterprises and activities from the coverage of VAT on local sales of RBEs under Section 295(D) of the NIRC of 997 (Tax Code), as Amended by Section 18 of Republic Act No. 12066.

SEC Update: SEC Memorandum Circular (MC) No. 09, series of 2026
FILING OF ANNUAL FINANCIAL STATEMENTS AND GENERAL INFORMATION SHEET

𝗕𝗜𝗥 𝗢𝗻𝗹𝗶𝗻𝗲 𝗟𝗢𝗔 𝗩𝗲𝗿𝗶𝗳𝗶𝗲𝗿 𝗡𝗼𝘄 𝗟𝗶𝘃𝗲

SEC News: SEC STREAMLINES AMENDMENT PROCESS FOR CORPORATIONS.

SEC News: SEC EXTENDS REGISTRATION, FILING FEE DISCOUNTS FOR MSMEs.

BIR Update: Revenue Memorandum Circular (RMC) No. 4-2026 clarifies the mandatory registration of Permanently Bound Loose-Leaf Books of Accounts and Computerized Books of Accounts through the Online Registration and Update System (ORUS), and extension of registration deadlines.