AGPT Accounting & Business Consultancy - CPAs

Congratulations to the May 2026 CPALE Passers!

Your hard work, discipline and perseverance have brought you to this well-deserved milestone. As you begin your journey as CPAs, may you stay grounded in integrity, sharpen your judgment and remain ready for the challenges and opportunities of the future.

“The future will always change but integrity, critical thinking and service will always define a trusted CPA.”

From all of us at AGPT Accounting & Business Consultancy - CPAs, congratulations and welcome to the profession, new CPAs! 👏

BIR Launches New Taxpayer Portal for Pilot Implementation Under Revenue Memorandum Circular No. 053-2026

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 053-2026 on May 26 2026 to announce the availability of the Taxpayer Portal. This digital platform is currently in its pilot implementation phase specifically for taxpayers registered under the Large Taxpayers Service (LTS). The portal provides a centralized digital profile where users can view registration details, monitor the status of filed tax returns by Tax Type or Form Type, track tax payments, and view account ledgers. It also features system-generated notifications and reminders to reduce the necessity for in-person visits to BIR offices. Large taxpayers are encouraged to enroll immediately to utilize these functionalities. For enrollment assistance or technical issues regarding record accuracy, affected taxpayers must coordinate directly with their respective Large Taxpayers Office or Division. This pilot phase serves as a readiness test before the BIR proceeds with a wider deployment to other taxpayer classifications.

BIR Extends Deadline for Submission of 2025 Audited Financial Statements and Attachments via eAFS Until May 25, 2026

Revenue Memorandum Circular No. 046-2026 provides an extension for the submission of 2025 Audited Financial Statements and other attachments through the Electronic Audited Financial Statements facility. Taxpayers who failed to upload documents by May 15, 2026, because of system issues or failed to receive an official email acknowledgment must resubmit through the eAFS system by May 25, 2026. This extension allows for submission without the imposition of penalties arising from the delay. Note that this directive applies only to the submission of attachments and does not extend the deadline for the filing of the Annual Income Tax Return itself. Taxpayers who utilized the contingency email procedure on or before May 15, 2026, and received a formal acknowledgment are already considered compliant. While these taxpayers are not required to resubmit via the eAFS facility, they may do so if they prefer. The BIR reserves the right to request hard copies or additional documentation during subsequent audit or verification processes.

📣 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/

📣 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/

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BIR Revenue Memorandum Circular No. 038-2026 on Mandatory Posting of BIR Registration Seal Badges for Online Businesses and Professionals

Revenue Memorandum Circular No. 038-2026, issued on April 29 2026, mandates that all taxpayers engaged in online business or services must display the BIR Registration Seal Badge on their digital platforms. This requirement affects online sellers, e-commerce merchants, content creators, vloggers, and influencers, including those with PSOC 5990 or PSIC 47913 classifications. The seal serves as proof of registration and replaces the online posting of a full BIR COR or eCOR to protect sensitive taxpayer data. Each badge features a QR code for immediate authenticity verification through the official BIR domain. Taxpayers can secure the badge for free via the Online Registration and Update System (ORUS) or at their respective Revenue District Office. While the badge itself is free, taxpayers updating their registration to secure the seal or a QR-equipped COR must pay P30.00 for the Loose Documentary Stamp Tax (DST). Business owners must ensure the badge is clearly visible on website About pages, mobile app settings, or e-marketplace profile pages. This requirement is effective upon issuance of the Circular. Failure to comply with registration posting requirements is subject to penalties under Revenue Regulations No. 7-2024 and Revenue Regulations No. 15-2024. Professionals and merchants should immediately update their registration information through ORUS to generate and display their electronic seal.