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𝗕𝗜𝗥 𝗟𝗔𝗨𝗡𝗖𝗛𝗘𝗦 “𝗘𝗔𝗦𝗘 𝗢𝗙 𝗖𝗟𝗢𝗦𝗜𝗡𝗚 𝗕𝗨𝗦𝗜𝗡𝗘𝗦𝗦” 𝗚𝗨𝗜𝗗𝗘𝗟𝗜𝗡𝗘𝗦 𝗙𝗢𝗥 𝗧𝗔𝗫 𝗥𝗘𝗚𝗜𝗦𝗧𝗥𝗔𝗧𝗜𝗢𝗡 𝗖𝗔𝗡𝗖𝗘𝗟𝗟𝗔𝗧𝗜𝗢𝗡; 𝗧𝗔𝗫 𝗖𝗟𝗘𝗔𝗥𝗔𝗡𝗖𝗘 𝗥𝗘𝗟𝗘𝗔𝗦𝗘𝗗 𝗔𝗦 𝗙𝗔𝗦𝗧 𝗔𝗦 𝗧𝗛𝗥𝗘𝗘 𝗗𝗔𝗬𝗦

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 47-2026 on May 19, 2026, prescribing new guidelines to simplify the process for closing businesses and cancelling tax registration, as part of the implementation of Republic Act No. 11976, otherwise known as the “Ease of Paying Taxes Act.”

“This is our ‘Ease of Closing Business’ reform,” Commissioner Charlito Martin R. Mendoza said. “In line with President Ferdinand R. Marcos Jr.’s directive to make government services faster, better, and more responsive, and Finance Secretary Frederick D. Go’s push to make tax administration more investor-friendly and business-friendly, the BIR is making it easier for taxpayers who have already ceased operations to properly close their business and cancel their registration.”

“From improving the ease of doing business and the ease of paying taxes, this reform completes the BIR’s support for businesses through every stage of the business life cycle. If we make it easier to start and operate a business, then the government must also make it easier to properly close BIR registration once operations have already ceased,” he added.

Under RMC No. 47-2026, taxpayers who have already ceased operations may now apply for the closure or cancellation of their registration, either manually or electronically, through the Revenue District Office where their head office or branch is registered.

The Circular simplifies and standardizes documentary requirements. Together with the application form and the surrender of original BIR registration documents and permits previously issued to the business, taxpayers will only be required to submit two other document sets for closure: the list of ending inventory of goods and supplies, including capital goods for VAT-registered taxpayers, and the unused invoices, supplementary documents, and other unutilized accounting forms, together with their inventory.

Under the new guidelines, penalties for non-filing of tax returns shall no longer accrue once the taxpayer submits the complete documentary requirements for the closure or cancellation of registration. To prevent the further accumulation of open cases, the taxpayer’s registered form types shall likewise be placed under “deregistered” status upon submission of the complete requirements. Filing an application for the closure or cancellation of registration, however, does not preclude the Bureau from conducting an audit to determine any outstanding tax liabilities.

In addition, micro taxpayers shall not be subject to mandatory audit for closure and/or cancellation of business registration. Hence, tax clearances will be issued within three (3) working days from submission of complete documentary requirements for those with no open cases or outstanding liabilities. For micro taxpayers with open cases, tax clearance will be issued within three (3) working days from the submission of the complete documentary requirements and the payment of outstanding liabilities, including penalties.

Commissioner Mendoza encouraged taxpayers who have already ceased operations to avail themselves of the streamlined process to avoid the continued accumulation of penalties and to properly update their registration records with the Bureau.

Read the full RMC here:https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2047-2026.pdf

📣 𝗦𝗘𝗖 𝘀𝘂𝘀𝗽𝗲𝗻𝗱𝘀 𝗺𝗼𝗻𝘁𝗵𝗹𝘆 𝗽𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 𝗳𝗼𝗿 𝗹𝗮𝘁𝗲, 𝗻𝗼𝗻-𝗳𝗶𝗹𝗶𝗻𝗴 𝗼𝗳 𝗿𝗲𝗽𝗼𝗿𝘁𝘀

The Securities and Exchange Commission (SEC) is suspending until December 31, 2026 the imposition of monthly penalties in the late or non-filing of reportorial requirements, as it seeks to reduce transaction costs and promote the ease of doing business.

In its meeting on May 5, the Commission En Banc approved the suspension of penalties imposed for every month of delay for the late or non-filing of reportorial requirements, as provided under SEC Memorandum Circular No. 6, Series of 2024 (MC 6).

“As we celebrate the Ease of Doing Business month this May, the SEC reaffirms its commitment to foster a robust and responsive business environment,” SEC Chairperson Francis Lim said.

“By suspending the compounding monthly penalties, we are providing corporations an opportunity to get back their good standing without the burden of mounting transaction costs, as part of our goal of pushing corporations toward full compliance and sustainable growth,” he added.

The suspension will apply to corporations with pending monitoring applications. Corporations that have received final assessments but have not yet settled payment will be issued updated assessments excluding the per month of delay components.

Read the full memorandum circular here: https://www.sec.gov.ph/mc-2026/sec-mc-no-16-series-of-2026suspension-of-the-per-month-of-delay-penalty-for-late-and-non-filing-of-reportorial-requirements-under-sec-memorandum-circular-no-6-series-of-2024/

Read the full press release here: https://www.sec.gov.ph/pr-2026/sec-suspends-monthly-penalties-for-late-non-filing-of-reports/

𝗔𝗗𝗩𝗜𝗦𝗢𝗥𝗬
May 12, 2026

In compliance with the 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲 𝗢𝗿𝗱𝗲𝗿 𝗡𝗼. 𝟭𝟭𝟳 dated May 7, 2026 titled “STREAMLINING THE ACCREDITATION SYSTEM FOR DONEE INSTITUTIONS AND DESIGNATING THE DEPARTMENT OF SOCIAL WELFARE AND DEVELOPMENT AS THE SOLE ACCREDITING ENTITY FOR SOCIAL WELFARE AND DEVELOPMENT AGENCIES, AMENDING EXECUTIVE ORDER NO. 720 (2008) FOR THE PURPOSE”, the Philippine Council for NGO Certification (PCNC) shall cease receiving, processing and evaluating 𝗮𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝗮𝗰𝗰𝗿𝗲𝗱𝗶𝘁𝗮𝘁𝗶𝗼𝗻 𝗳𝗼𝗿 𝗽𝘂𝗿𝗽𝗼𝘀𝗲𝘀 𝗼𝗳 𝗱𝗼𝗻𝗲𝗲-𝗶𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻 𝘀𝘁𝗮𝘁𝘂𝘀 of NGOs that are licensed and accredited by the DSWD as SWDAs, effective immediately. SWDAs may, at their discretion, still pursue PCNC-accreditation as a “seal of good governance and housekeeping”.

Section 2 of the Order provides that “The Certificate of Registration and Certificate of Accreditation issued by the DSWD to SWDAs, as applicable, shall be deemed sufficient and shall be recognized by the BIR in granting donee-institution status for purposes of Section 34(H) and 101(A) of the National Internal Revenue Code, as amended.”

PCNC shall continue processing the application for accreditation and donee-institution status of NGOs that are not SWDA until the implementing guidelines of the said EO has been issued or a clarification to the contrary has been made by the BIR.

For your guidance.

Access/download Executive Order No. 117: https://www.officialgazette.gov.ph/2026/05/07/executive-order-no-117-s-2026/

📣 𝗡𝗢𝗧𝗜𝗖𝗘: 𝗘𝘅𝘁𝗲𝗻𝘀𝗶𝗼𝗻 𝗼𝗳 𝗧𝗲𝗺𝗽𝗼𝗿𝗮𝗿𝘆 𝗨𝘀𝗲 𝗼𝗳 𝟮𝟬𝟮𝟬 𝗙𝗼𝗿𝗺 𝗳𝗼𝗿 𝗙𝗶𝗹𝗶𝗻𝗴 𝗼𝗳 𝗚𝗲𝗻𝗲𝗿𝗮𝗹 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗦𝗵𝗲𝗲𝘁 (𝗚𝗜𝗦) 𝗼𝗻 𝗲𝗙𝗔𝗦𝗧

The Securities and Exchange Commission has further extended the temporary use of the 2020 General Information Sheet (GIS) Form for filing through eFAST until 30 June 2026.

Corporations may continue to use the 2020 GIS Form during this extended period while completing the necessary setup or access arrangements for the Hierarchical and Applicable Relations and Beneficial Ownership Registry (HARBOR).

📄 Download the form here:
https://bit.ly/2020GISForms

This extension aims to give corporations sufficient time to complete their HARBOR access and setup.

For concerns involving eFAST, eSECURE, or HARBOR, the public may visit the SEC Headquarters in Makati City or the nearest SEC Extension Office for on-site assistance.

For inquiries:
📞 Dial 1-4SEC (14732)
📧 SEC iMessage Portal: https://imessage.sec.gov.ph/

Read the full notice here: https://www.sec.gov.ph/notices-2026/extension-of-temporary-use-of-2020-form-for-filing-of-general-information-sheet-on-efast-until-30-june-2026/

𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 𝘁𝗼 𝘀𝘁𝗮𝗿𝘁 𝘆𝗼𝘂𝗿 𝗼𝘄𝗻 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗼𝗿 𝗰𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗶𝗼𝗻?

Join the SEC CAN! Webinar on Company Registration and learn the essentials of registration with the SEC.

From the requirements and procedures to helpful tips for a smooth application process, we’ve got you covered. This webinar will be aired through the official page of the SEC Philippines.

🖥️ Mode: Facebook Live (www.fb.com/PhilippineSEC)
🔗 Registration Link: https://bit.ly/SEC-Company-Registration-Webinar
🗓️ Date: 21 May 2026 (Thursday)
🕑 Time: 2:00 PM - 3:00 PM

Start smart. Register right. Build your business with confidence with the SEC! 🇵🇭

📢 eBIRForms v7.9.6 is now available!
Ensure a smooth transition by following the proper steps in transferring your data from the previous version.

✅ Download the latest version
✅ Copy and transfer your existing data files
✅ Update your TIN format
✅ Verify your records

Stay compliant and avoid filing issues by updating today.

📣 ATTENTION Mga Ka-Nova!

DEADLINE EXTENDED! ⏰

Pursuant to RMC No. 39-2026

Submission of 2025 AITR Attachments is now extended until
👉 MAY 15, 2026

✔ Filed on or before April 15?
✔ Filed after April 15?

✅ You still have time!
Submit your attachments via eAFS on or before the deadline.

📌 Avoid penalties — file and submit on time!
📌 Fast and convenient submission through eAFS

RMC No. 036-2026
Availability of Offline Electronic Bureau of Internal Revenue Forms
(eBlRForms) Package Version 7.9.6.0.

The updated Offline eBlRForms Package v7.9.6.0 contains the following enhancements:

1. Inclusion of BIR Form No. 1701-MS August2024 [Annual Income Tax Return For Individuals Classified as MICRO or SMALL Taxpayers].

2. New Alphanumeric Tax Codes (ATCs) have been added in BIR Form No. 1601-EQ (ATC: WI840, WC840, WI850, WC850, WI860 and WC860).

3. Increase in character field length of Taxpayer Identification Number (TIN) Branch Code, from three (3) digits to five (5) digits branch code in all tax returns.

4. Updated tax rates, from 15% to 20%, in Schedule 1 for Foreign Currency Deposit based on the return period being filed in BIR Form No. 1602Qv2018.

5. Bug fixes for the following BIR Forms: 0619E, 1601FQ, 1604F, 1702Qv2018C, 1702EXv2018, 1702MXv2018C, 1707v2021, 2000-OT and 2551Qv2018.

🎯 WEBINAR ON ANTI-MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM (AML/CFT)

📅 29 May 2026 | 1:00 PM to 4:00 PM via Zoom

The Securities and Exchange Commission invites all registered capital market professionals to the webinar entitled, SEC Webinar - AML/CFT Compliance Series: Understanding Current and Emerging ML Threats through the 3rd National ML/TF/PF Risk Assessment on 29 May 2026 (Friday) from 1:00 PM to 4:00 PM via Zoom.

The free webinar developed by the Anti-Money Laundering Division and Market Professionals Development Division of the Commission aims to build stronger and smarter compliance for the capital market professionals with the tools to understand evolving money laundering risks, adopt a risk-based approach in AML/CFT/CPF compliance programs, and better identify and report suspicious activities.

💡Topics include:
➜ Overview of the 3rd National ML/TF/PF Risk Assessment
➜ Implications for SEC-covered persons
➜ Strengthening AML/CFT/CPF controls using a risk-based approach
➜ High-risk predicate crimes and sectoral vulnerabilities
➜ Emerging ML/TF typologies (e.g., cyber scams, OSAEC, environmental crimes and drug trafficking)
➜ Case studies

Attendance to the webinar is free of charge and is on a first-come, first-served basis. You may use this opportunity to enhance your knowledge to leverage your skills on how to effectively implement AML/CFT measures in your respective institutions.

Don’t miss this opportunity. Sign up now!
🔗 Register Now: bit.ly/AMLCFT29MAY2026