Ternura Business Consultancy

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📣 𝗦𝗘𝗖 𝗶𝘀𝘀𝘂𝗲𝘀 𝗴𝘂𝗶𝗱𝗲𝗹𝗶𝗻𝗲𝘀 𝗳𝗼𝗿 𝗽𝗮𝗽𝗲𝗿𝗹𝗲𝘀𝘀 𝗳𝗶𝗹𝗶𝗻𝗴 𝗼𝗳 𝗮𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁𝘀 𝘁𝗼 𝗰𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝘀

The Securities and Exchange Commission (SEC) has issued guidelines that allow paperless filing for specific amendment applications through the Electronic Application for Modification of Entity Data (eAMEND) to streamline amendment processes.

The Commission on July 17 issued Memorandum Circular (MC) No. 21, Series of 2026, which provides for the Guidelines on the Implementation of Paperless Filing for Select Amendment Applications through the eAMEND Portal, to improve regulatory efficiency and promote sustainability.

The MC establishes an optional paperless processing lane, under Simple Processing, for select amendment applications. Paperless filing will cover amendments to both the articles of incorporation (AOI) and by-laws (BL).

For AOI, the covered amendments include the prefatory clause, change in the principal office address, term of existence, increase or decrease in the number of the board of directors/trustees, and fiscal year for one person corporations. For BL, covered amendments include the date of annual meeting of the stockholders/members, and fiscal year.

Since paperless filing is optional, corporations have the choice to still file amendment applications through the Simple or Regular processing lanes, whichever is applicable, and submit hard copies of amendment documents.

The new rules supplement SEC Memorandum Circular (MC) No. 3, Series of 2024, and SEC Memorandum Circular No. 3, Series of 2026, which prescribe the guidelines on the use of the eAMEND portal.

“We continue to leverage our digital tools to provide the public with better services in every transaction, consistent with our goal of improving the ease of doing business in the Philippines,” SEC Chairperson Francis Lim said.

“By allowing paperless filing for specific applications through the eAMEND portal, we are not only expediting the processing of amendment applications, but also reducing the administrative burden for corporations and promoting sustainability in the corporate sector,” he added.

Read the full MC here: https://www.sec.gov.ph/mc-2026/sec-mc-no-21-series-of-2026/

𝗕𝗜𝗥 𝗖𝗟𝗔𝗥𝗜𝗙𝗜𝗘𝗦 𝗖𝗥𝗘𝗗𝗜𝗧𝗔𝗕𝗟𝗘 𝗪𝗜𝗧𝗛𝗛𝗢𝗟𝗗𝗜𝗡𝗚 𝗧𝗔𝗫 𝗥𝗨𝗟𝗘𝗦 𝗙𝗢𝗥 𝗧𝗢𝗣 𝗪𝗜𝗧𝗛𝗛𝗢𝗟𝗗𝗜𝗡𝗚 𝗔𝗚𝗘𝗡𝗧𝗦 𝗨𝗡𝗗𝗘𝗥 𝗥𝗥 𝗡𝗢. 𝟮𝟰-𝟮𝟬𝟮𝟱

The Bureau of Internal Revenue (BIR) advises all Top Withholding Agents (TWA), manufacturers, direct importers, taxpayers, and other stakeholders that it has issued Revenue Memorandum Circular (RMC) No. 79-2026, which clarifies the provisions of Revenue Regulations (RR) No. 24-2025 on the imposition of Creditable Withholding Tax (CWT) on Top Withholding Agents.

The Circular provides answers to frequently asked questions on the implementation of RR No. 24-2025, including the application of the one-half percent (1/2%) CWT on purchases from manufacturers and direct importers of covered goods intended for wholesale. It also clarifies the documentary requirements for establishing a supplier's status, the proper interpretation of "intended for wholesale," and the circumstances under which the preferential 1/2% CWT rate applies.

In addition, RMC No. 79-2026 clarifies the application of the withholding tax rules to purchases involving motor vehicles in Completely Built Unit (CBU) or Semi-Knocked Down (SKD) form, motorcycles, pharmaceutical products, and solid and liquid fuels and related products. It also prescribes the appropriate corrective measures when an incorrect withholding tax rate has been applied.
The issuance aims to promote the uniform implementation of RR No. 24-2025, provide clearer guidance to withholding agents and taxpayers, and ensure the proper application of withholding tax rules in covered transactions.

For the full text of RMC No. 79-2026, visit the BIR website or access the Circular through this link:https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2079-2026_redacted.pdf

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