Reliable Business Services OPC

📌 BUSINESS CLOSURE: DON’T JUST STOP OPERATING — CLOSE IT PROPERLY!

Planning to close your business? 🏢❌
Simply stopping your operations does not automatically mean your business is officially closed.

Closing a business involves more than simply ceasing operations. Proper compliance and documentation are important to ensure that your business closure is handled smoothly and properly.

To avoid future tax liabilities, penalties, and compliance issues, make sure you properly process your business closure with the concerned government agencies:

🟡 LGU
🔵 BIR
🟢 SEC

💡 Remember: Proper business closure today can help protect you from unnecessary obligations in the future.

👉 Have you ever experienced closing a business?
What was the most challenging part of the process? Share your experience in the comments! 👇

📩 Send us a message today for a consultation and learn how we can assist you with your business closure.

Reliable Business Services
Your Business. Our Commitment. Your Success.

📢 BIR RMC No. 95-2026: Extension of Tax Filing Deadlines

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 95-2026, granting an extension of the deadlines for filing tax returns, payment of corresponding taxes, and submission of required documents due to the unavailability of the eBIRForms Offline Package.

💡 What does this mean for taxpayers?

Taxpayers who are affected by the unavailability of the eBIRForms Offline Package are given additional time to comply with their tax filing and payment obligations covered by the Circular.

✅ Extension of deadlines for applicable tax returns
✅ Extension of payment deadlines for corresponding taxes
✅ Extension for submission of required documents
✅ Relief for taxpayers affected by the eBIRForms system unavailability

📌 Important: Taxpayers should still make sure that their returns are filed and taxes are paid within the extended deadlines provided by the BIR.

Stay updated and avoid penalties by monitoring official BIR announcements and ensuring timely compliance with your tax obligations.

Need assistance with your tax filing and BIR compliance?
📩 Message us for professional assistance.

📢 BIR UPDATE: Anti-Fixer Campaign & Client Satisfaction Measurement

🚨 BIR Advisory: Strengthening the Fight Against Fixers!

The Bureau of Internal Revenue (BIR), through Revenue Memorandum Circular No. 92-2026, circularizes ARTA Memorandum Circular No. 2026-0004, which strengthens the campaign against fixers and reinforces the implementation of the Client Satisfaction Measurement (CSM).

💡 What does this mean for taxpayers?

✅ Say NO TO FIXERS!
Do not pay anyone who offers to speed up, facilitate, or guarantee the approval of a government transaction through unofficial means.

✅ Know your rights as a taxpayer.
Government services should be provided in a transparent, fair, and efficient manner.

✅ Share your feedback.
The Client Satisfaction Measurement (CSM) allows clients to provide feedback regarding their experience with government services and helps agencies identify areas for improvement.

📌 Reminder: Always transact through official BIR channels and authorized personnel. If you encounter suspicious offers or individuals claiming they can facilitate transactions for a fee, be cautious and report them through the proper channels.

Together, let’s promote TRANSPARENCY, INTEGRITY, and QUALITY PUBLIC SERVICE. 🇵🇭

Revenue Memorandum Circular No. 90-2026 - clarifies on the Certificate of Compliance issued by the Cooperatives and Social Enterprise Authority of the Bangsamoro Autonomous Region in Muslim Mindanao.

Just in

The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 89-2026 which extended the deadline for the filing of certain tax returns and the payment of taxes due under Revenue District Offices (RDOs) affected by heavy rainfall due to southwest monsoon.

• The extension also applies to the submission of required documents for taxpayers within the jurisdiction of affected Revenue District Offices (RDOs).
• The deadline extension applies to specific RDOs across Metro Manila, Ilocos Sur, La Union, Pangasinan, Abra, Apayao, Benguet, Ifugao, Kalinga, Mountain Province, Bataan, Bulacan, Pampanga, Tarlac, Zambales, Cavite, Batangas, Rizal, and Mindoro.
• The statutory tax deadlines are extended until August 17, 2026. • This measure is in response to Memorandum Circular No. 123, allowing work-from-home arrangements due to continued heavy rainfall brought about by the southwest monsoon.
• If the extended due date falls on a holiday or non-working day, the filing and submission shall be made on the next working day.

Also, under BIR Bank Bulletin No. 2026-09:
• All BIR Authorized Agent Banks (AABs) are instructed to accept the filing of returns and the payment of taxes from taxpayers under the affected RDOs until August 17, 2026.
• These transactions must be accepted without the corresponding penalties.
• AABs are strictly reminded to follow the existing procedures regarding the acceptance of out-of-district returns.

🚨 COMMON BIR TAX EXPOSURES NA DAPAT NINYONG I-CHECK!

Hindi lang basta “may resibo” o “nakapag-file naman ng tax return” ang tinitingnan sa BIR audit. Importante na nagkakatugma ang figures at supporting documents sa iba’t ibang tax returns at financial records.

Narito ang ilan sa mga common exposure na madalas makita:

1️⃣ Hindi tugma ang VAT Sales sa ITR at Financial Statements
Halimbawa, iba ang sales na dineklara sa VAT returns kumpara sa sales na nasa Income Tax Return at Audited Financial Statements. 🚩
👉 Maaaring magresulta ito sa tax discrepancy at kailangan itong ma-reconcile.

2️⃣ Hindi tugma ang Inventory List sa Financial Statements
Kung hindi nagtutugma ang inventory na nasa inventory list kumpara sa inventory balance na nasa Financial Statements, maaaring kuwestiyunin kung tama ang inventory records at valuation.

3️⃣ Hindi tugma ang Salary sa 1601-C at Financial Statements
Kung ang salaries/wages na nire-report sa BIR withholding tax returns (1601-C) ay hindi tugma sa salary expense na nasa Financial Statements, kailangang maipaliwanag kung saan nanggaling ang difference.

4️⃣ Hindi tugma ang Source ng Input VAT sa Items sa Financial Statements
Halimbawa, malaki ang claimed input VAT pero hindi malinaw kung ang purchases na pinanggalingan nito ay consistent sa nature ng business at sa expenses/purchases na nasa Financial Statements.
👉 Dapat may proper invoices at supporting documents at dapat ma-trace ang transaction.

5️⃣ May mga Tax Return na hindi na-file
Simple pero malaking exposure.
Kapag may required return na hindi na-file, maaaring magkaroon ng surcharge, interest at penalties, depende sa circumstances at applicable rules.

6️⃣ May Expense na hindi na-withhold-an
Kung ang isang expense ay subject sa withholding tax pero hindi ito na-withhold at na-remit sa BIR, maaaring magkaroon ng exposure ang taxpayer.
👉 Hindi sapat na legitimate ang expense—kailangan ding tingnan kung may applicable withholding obligation.

7️⃣ Mali o kulang ang substantiation ng expenses
Hindi porke't recorded sa books ay automatic deductible na.
Dapat may sapat na supporting documents upang mapatunayan ang validity, business purpose at amount ng expense, alinsunod sa applicable tax rules.

8️⃣ Zero-rated o Exempt Sales na kulang ang substantiation
Kung nag-claim ng VAT zero-rated o VAT-exempt sales, kailangang mapatunayan na talagang qualified ang transaction at kumpleto ang required documentation.

👉 Sa BIR audit, hindi lang tanong na “May transaction ba?”

Ang mas mahalagang tanong ay:

“Mapapatunayan mo ba na tama ang transaction, tama ang tax treatment, at consistent ito sa lahat ng iyong records?”

📌 Tip: Bago dumating ang BIR audit, magandang magkaroon ng tax reconciliation between your VAT returns, ITR, Financial Statements, withholding tax returns, inventory records, at supporting documents.

Mas madaling ayusin ang discrepancy bago ito maging BIR assessment.

Nagkita na po ulit kami ng kumot at higaan namin.

(at maalala mo ang kasunod ng August ay September, "ber" months na, hudyat na papasok na ulit ang tax season)

Revenue Memorandum Order No. 19-2026 policies, guidelines, and procedures for the Availment of a One-Time Abatement of Taxes and/or Penalties for Micro Taxpayers Pursuant to Revenue Regulations No. 004-2026.

Revenue Memorandum Order No. 18-2026: Creation of Alphanumeric Tax Code (ATC) of Selected Revenue Source under
Revenue Regulations No. 004-2026