Mayo & Co., CPAs

📣 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/.../sec-mc-no-16-series-of.../
Read the full press release here: https://www.sec.gov.ph/.../sec-suspends-monthly.../
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📣 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/

𝐇𝐞𝐚𝐝𝐬 𝐮𝐩, 𝐓𝐚𝐱𝐩𝐚𝐲𝐞𝐫𝐬 & 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐎𝐰𝐧𝐞𝐫𝐬! 📢

The BIR is streamlining its enforcement process! Under RMO No. 011-2026, the "Cost to Collect" threshold for delinquent accounts has been increased from ₱20,000 to ₱80,000.

This means the BIR is prioritizing high-impact cases and writing off smaller, older debts that are no longer "economically feasible" to pursue.

𝐃𝐨𝐧'𝐭 𝐠𝐞𝐭 𝐜𝐨𝐦𝐩𝐥𝐚𝐜𝐞𝐧𝐭—𝐰𝐡𝐢𝐥𝐞 𝐭𝐡𝐞𝐲 𝐚𝐫𝐞 𝐜𝐥𝐞𝐚𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐜𝐥𝐮𝐭𝐭𝐞𝐫, 𝐭𝐡𝐞𝐲 𝐚𝐫𝐞 𝐬𝐡𝐚𝐫𝐩𝐞𝐧𝐢𝐧𝐠 𝐭𝐡𝐞𝐢𝐫 𝐟𝐨𝐜𝐮𝐬 𝐨𝐧 𝐥𝐚𝐫𝐠𝐞𝐫 𝐚𝐜𝐜𝐨𝐮𝐧𝐭𝐬! Stay compliant and keep your records clean to avoid being on their priority list.

𝐑𝐞𝐚𝐝 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐨𝐫𝐝𝐞𝐫 𝐡𝐞𝐫𝐞:https://bir-cdn.bir.gov.ph/BIR/pdf/RMO%20No.%2011-2026.pdf

📍 Visit us: Unit 1 RM Building, Antipolo Del Norte, Lipa City, Batangas.

𝑩𝒆𝒕𝒕𝒆𝒓 𝒕𝒐𝒈𝒆𝒕𝒉𝒆𝒓! 🤜🤛

Our office will be closed on Monday, May 4, for a day of team building and re-energizing. We’re excited to sharpen our collaboration skills to continue providing top-tier service to our clients.

🗓 𝑩𝒂𝒄𝒌 𝒊𝒏 𝒕𝒉𝒆 𝒐𝒇𝒇𝒊𝒄𝒆: 𝑻𝒖𝒆𝒔𝒅𝒂𝒚, 𝑴𝒂𝒚 5

See you then! 💼📈

𝐇𝐨𝐥𝐢𝐝𝐚𝐲 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲: 𝐋𝐚𝐛𝐨𝐫 𝐃𝐚𝐲

In observance of Labor Day, our office will be closed on Friday, May 1st. We take this time to honor the dedication and hard work of the Filipino workforce that drives our nation forward.

𝑾𝒊𝒔𝒉𝒊𝒏𝒈 𝒆𝒗𝒆𝒓𝒚𝒐𝒏𝒆 𝒂 𝒓𝒆𝒔𝒕𝒇𝒖𝒍 𝒂𝒏𝒅 𝒎𝒆𝒂𝒏𝒊𝒏𝒈𝒇𝒖𝒍 𝑳𝒂𝒃𝒐𝒓 𝑫𝒂𝒚! 🛠💼

𝐇𝐞𝐚𝐝𝐬 𝐮𝐩, 𝐄-𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐒𝐞𝐥𝐥𝐞𝐫𝐬! 🛒🇵🇭

Is your online shop BIR-compliant? Under RMC No. 038-2026, online merchants are now required to post the BIR Registration Seal Badge on their websites and marketplace pages.

Additionally, the BIR is transitioning to QR-coded Certificates of Registration for faster validation. 📲

𝐃𝐨𝐧'𝐭 𝐰𝐚𝐢𝐭 𝐟𝐨𝐫 𝐚 𝐧𝐨𝐭𝐢𝐜𝐞—𝐬𝐭𝐚𝐲 𝐚𝐡𝐞𝐚𝐝 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐫𝐯𝐞 𝐚𝐧𝐝 𝐮𝐩𝐝𝐚𝐭𝐞 𝐲𝐨𝐮𝐫 𝐂𝐎𝐑 𝐧𝐨𝐰! 𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞:https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%2038-2026%20ANNEX%20C%20-%20Taxpayer%20Guide%20on%20how%20to%20generate%20Registration%20Seal%20Badge%20in%20ORUS.pdf

📍 Visit us: Unit 1 RM Building, Antipolo Del Norte, Lipa City, Batangas.

Headline: 🛑 Excise Tax Suspension Alert!

Executive Order No. 114 is officially in effect, suspending excise taxes on LPG and Kerosene.

Keep your budget on track and stay informed! For expert accounting and tax services, reach out to Mayo & Co., CPAs.

𝑩𝒓𝒆𝒂𝒕𝒉𝒆 𝒂 𝒔𝒊𝒈𝒉 𝒐𝒇 𝒓𝒆𝒍𝒊𝒆𝒇! 🧘‍♂️✨

You’ve got more time to get your documents in order. The 2025 Annual Income Tax Return filing deadline is now 𝐌𝐚𝐲 𝟏𝟓, 𝟐𝟎𝟐𝟔.

While you have a few extra weeks, why not skip the last-minute rush? Let Mayo & Co., CPAs handle the heavy lifting for you. We provide trusted accounting and tax services so you can focus on what you do best—growing your business! 📈💼

Reach out to us today to get started!

𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐔𝐩𝐝𝐚𝐭𝐞 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐕𝐚𝐥𝐮𝐞𝐝 𝐂𝐥𝐢𝐞𝐧𝐭𝐬!

With the April 15 tax deadline fast approaching, please take note of our holiday schedule for April. ⛪️⚖️

𝐎𝐮𝐫 𝐨𝐟𝐟𝐢𝐜𝐞 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐂𝐋𝐎𝐒𝐄𝐃 𝐨𝐧 𝐀𝐩𝐫𝐢𝐥 𝟐, 𝟑, 𝐚𝐧𝐝 𝟗.

Because these holidays fall right in the middle of tax season, we highly recommend finishing your paperwork this week! Don't let the holidays delay your compliance.

Let’s get those filings done early so you can enjoy the long break worry-free! 🛡💼

🚨 𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆 𝐍𝐄𝐖𝐒 𝐅𝐎𝐑 𝐀𝐋𝐋 𝐓𝐀𝐗𝐏𝐀𝐘𝐄𝐑𝐒! 🚨

The Bureau of Internal Revenue (BIR) has officially announced the resumption of tax audits and field operations effective immediately, January 27, 2026, as per RMC No. 008-2026 and RMO No. 001-2026.

𝐑𝐄𝐀𝐃 𝐌𝐎𝐑𝐄: 🔗https://bir-cdn.bir.gov.ph/BIR/pdf/RMO%20No.%201-2026%20Annex%20A.pdf 🔗https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%208-2026.pdf

What does this mean for you and your business? It's time to ensure your books are in order and your compliance is up to date. Don't wait for a notice—be prepared!

𝐇𝐞𝐫𝐞'𝐬 𝐲𝐨𝐮𝐫 𝐠𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐮𝐩𝐝𝐚𝐭𝐞𝐝 𝐜𝐫𝐢𝐭𝐞𝐫𝐢𝐚 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐚𝐮𝐝𝐢𝐭 𝐬𝐞𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐚𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐑𝐌𝐎 𝟎𝟎𝟏-𝟐𝟎𝟐𝟔 𝐀𝐧𝐧𝐞𝐱 𝐀: 👇 (𝐒𝐞𝐞 𝐚𝐭𝐭𝐚𝐜𝐡𝐞𝐝 𝐢𝐦𝐚𝐠𝐞)

Our team at Mayo & Co., CPAs is here to help you navigate these changes and ensure you are audit-ready.

📞 Contact us today for a consultation:

(043) 757 9628

+63938-951-0416

[email protected]

📍 Visit us at: Unit 1 RM Building, Antipolo Del Norte, Lipa City, Batangas, Philippines

Taxpayers may soon start receiving letters of authority (LOAs) again from the Bureau of Internal Revenue (BIR), as the suspension on tax audits is expected to be lifted in the first quarter of 2026, allowing the agency to resume audit operations and maximize revenue collection.

Speaking to the private sector on Wednesday night, Jan. 21, Finance Secretary Frederick D. Go said the BIR, the country’s main tax-collection agency, needs to resume issuing LOAs to meet its revenue collection target of ₱3.58 trillion this year. A LOA allows revenue officers to examine a taxpayer’s book and records.

Read the full article in the comments section below.