SRF Accounting Services

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𝗡𝗢𝗧𝗜𝗖𝗘: 𝗛𝗔𝗥𝗕𝗢𝗥 𝗮𝗻𝗱 𝗨𝘀𝗲 𝗼𝗳 𝗢𝗹𝗱 𝗚𝗜𝗦 𝗙𝗼𝗿𝗺𝘀

The Securities and Exchange Commission (SEC) reminds all corporations that in line with notice dated 30 June 2026 the transitional use of the old GIS Form via eFAST shall end on July 31, 2026, unless otherwise extended. Effective August 1, 2026, the 2020 form will no longer be accepted, and all corporations must submit their Beneficial Ownership Declaration (BOD) Page through the new HARBOR portal in compliance with SEC Memorandum Circular No. 15, Series of 2025.

Corporations are strongly advised to transition to HARBOR ahead of the deadline and monitor official SEC channels for further updates. For assistance, please contact the SEC hotline at 1-4SEC (1-4732) or submit an inquiry through the SEC iMessage Portal.

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📣 𝗡𝗢𝗧𝗜𝗖𝗘: 𝗘𝘅𝘁𝗲𝗻𝘀𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗗𝗲𝗮𝗱𝗹𝗶𝗻𝗲 𝗳𝗼𝗿 𝗙𝗶𝗹𝗶𝗻𝗴 𝗼𝗳 𝟮𝟬𝟮𝟱 𝗔𝗻𝗻𝘂𝗮𝗹 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀 (𝗔𝗙𝗦)

The filing deadline for the 2025 Annual Financial Statements (AFS) and related reportorial requirements has been 𝗘𝗫𝗧𝗘𝗡𝗗𝗘𝗗. This follows the issuance of Revenue Memorandum Circular No. 30-2026 by the Bureau of Internal Revenue (BIR).

🗓️ Revised Deadlines:
• Annual Financial Statements of All Corporations: 𝗝𝘂𝗻𝗲 𝟭𝟱, 𝟮𝟬𝟮𝟲
• SEC Form 52-AR of Brokers & Dealers: 𝗠𝗮𝘆 𝟭𝟱, 𝟮𝟬𝟮𝟲
• Annual Reports (SEC Form 17-A) with AFS as attachment: 𝗠𝗮𝘆 𝟭𝟱, 𝟮𝟬𝟮𝟲

All corporations are reminded to ensure that submitted AFS are duly received by the BIR.

Read the full notice here: https://www.sec.gov.ph/notices-2026/extension-of-the-deadline-for-filing-of-2025-annual-financial-statements-afs/

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𝗕𝗜𝗥 𝗣𝗨𝗕𝗟𝗜𝗦𝗛𝗘𝗦 𝗨𝗣𝗗𝗔𝗧𝗘𝗗 𝗟𝗜𝗦𝗧 𝗢𝗙 𝟮,𝟮𝟲𝟯 𝗩𝗔𝗧-𝗘𝗫𝗘𝗠𝗣𝗧 𝗠𝗘𝗗𝗜𝗖𝗜𝗡𝗘𝗦

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 27-2026 on April 8, 2026, publishing the FDA-endorsed full list of VAT-exempt drugs under Republic Act No. 10963, or the TRAIN Law, and Republic Act No. 11534, or the CREATE Act.

The Food and Drug Administration Philippines (FDA) of the Department of Health (Philippines) endorsed the updated list of 2,263 VAT-exempt drugs for the treatment of the following illnesses: 702 for cancer, 535 for hypertension, 327 for diabetes, 300 for mental illness, 171 for high cholesterol, 152 for kidney disease, and 76 for tuberculosis.

In line with President Ferdinand R. Marcos Jr.’s directive to make healthcare more accessible and affordable for Filipinos, the Department of Finance, under Finance Secretary Frederick D. Go, supports the timely implementation of measures that help reduce the cost of essential medicines.

BIR Commissioner Charlito Martin R. Mendoza said, “This issuance forms part of the government’s continuing efforts to help ease the cost of essential medicines, especially for Filipinos managing chronic and critical illnesses.”

RMC No. 27-2026 further provides that the updated list supersedes previous revenue memorandum circulars issued on the matter and shall remain in effect until new updates are endorsed by the FDA.

You may access the full text of RMC No. 27-2026 here(https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2027-2026.pdf), while the complete list of VAT-exempt medicines is available through Annex A of the circular (https://bir-cdn.bir.gov.ph/BIR/pdf/Annex%20A%20of%20RMC%20No.%2027-2206%20(1).pdf).

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𝟴 𝗱𝗮𝘆𝘀 𝗹𝗲𝗳𝘁 before the April 15, 2026 Annual Income Tax filing and payment deadline.

This is a daily reminder from the BIR to taxpayers to pay your exact 2025 Annual Income Tax on the day of filing your return. Today's guide is on the 𝗧𝗮𝘅𝗽𝗮𝘆𝗲𝗿𝘀 𝗠𝗮𝗻𝗱𝗮𝘁𝗲𝗱 𝘁𝗼 𝗨𝘀𝗲 𝘁𝗵𝗲 𝗘𝗹𝗲𝗰𝘁𝗿𝗼𝗻𝗶𝗰 𝗙𝗶𝗹𝗶𝗻𝗴 𝗮𝗻𝗱 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗦𝘆𝘀𝘁𝗲𝗺 (𝗲𝗙𝗣𝗦) 𝗶𝗻 𝗧𝗵𝗲 𝗙𝗶𝗹𝗶𝗻𝗴 𝗼𝗳 𝗧𝗮𝘅 𝗥𝗲𝘁𝘂𝗿𝗻𝘀 𝗮𝗻𝗱 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗼𝗳 𝗧𝗮𝘅𝗲𝘀.

Avoid the rush - file and pay now!

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𝗗𝗢𝗙, 𝗕𝗜𝗥 𝗜𝗦𝗦𝗨𝗘 𝗥𝗨𝗟𝗘𝗦 𝗚𝗥𝗔𝗡𝗧𝗜𝗡𝗚 𝗩𝗔𝗧 𝗘𝗫𝗘𝗠𝗣𝗧𝗜𝗢𝗡 𝗙𝗢𝗥 𝗡𝗔𝗧𝗨𝗥𝗔𝗟 𝗚𝗔𝗦 𝗧𝗥𝗔𝗡𝗦𝗔𝗖𝗧𝗜𝗢𝗡𝗦

The Department of Finance, upon the recommendation of the Bureau of Internal Revenue (BIR), has issued new revenue regulations granting value-added tax (VAT) exemption on indigenous natural gas and related power generation, supporting the government’s push to develop the country’s natural gas industry.

The regulations implement fiscal incentives under Republic Act No. 12120 or the Philippine Natural Gas Industry Development Act, which promotes natural gas as a safe, efficient, and cost-effective energy source, while providing clear guidelines on the availment of VAT exemptions.

Under the rules, VAT exemption applies to the sale and purchase of indigenous natural gas, aggregated gas, and electricity generated using such gas, including ancillary services tied to power generation.

The exemption for aggregated gas, however, applies only to the portion attributable to indigenous natural gas, ensuring that incentives are properly targeted.

Covered transactions include those undertaken by suppliers, aggregators, resellers, and generation facilities, as well as participants in the Philippine downstream natural gas industry, subject to certification by the Department of Energy (DOE).
The BIR said the issuance provides clear guidelines on the availment of VAT incentives, including documentation and certification requirements to verify compliance.

To qualify, participants must present an endorsement from the DOE’s Oil Industry Management Bureau, along with certification indicating the volume and percentage of indigenous natural gas sold during the taxable quarter.

Generation facilities must obtain certification from DOE’s Electric Power Industry Management Bureau, confirming their use of indigenous natural gas and the amount of electricity produced from such gas.

Participants and generation facilities must attach their DOE permit to the endorsement documents.

The BIR regulations also include safeguards to prevent misuse of incentives.
Under the rules, availment of fiscal incentives under Title XIII of the Tax Code disqualifies entities from availing of similar incentives under RA 12120 and other special laws, reinforcing proper compliance and accountability.

BIR Commissioner Charlito Martin R. Mendoza highlighted the importance of natural gas to the country’s energy strategy and reaffirmed the Bureau’s commitment to sound tax administration.

“The BIR acknowledges the potential of natural gas to lower energy costs and help achieve national energy security. These regulations fully implement the mandates of RA No. 12120 by providing clear guidance on the availment of incentives that will support investment in the Philippine Natural Gas Industry,” said Mendoza.

“By establishing transparent and well-defined processes for VAT incentives on indigenous natural gas, we strengthen both the competitiveness of cleaner energy sources and the integrity of our tax system,” he added.

In line with the directive of President Ferdinand R. Marcos Jr. and the policy direction of Finance Secretary Frederick D. Go, the BIR continues to support priority industries while strengthening revenue administration.

The regulations will take effect 15 days after publication in the Official Gazette or on the BIR website, whichever comes first.

For more details, please visit the BIR’s website: https://tinyurl.com/RR02-2026