De Guzman, Pascual & Associates, CPAs

Congratulations to Ms. Arianne Mae Estabillo and Mr. James Paul Mariñas on successfully passing the CTT Exam 2026! 🎉

We are incredibly proud of both of you and all the effort you put into reaching this milestone.

Congratulations once again on this well-deserved accomplishment!

Congratulations to the newly promoted team members.

We wish you every success in the opportunities that lie ahead. May you continue to serve with dedication, to strive for excellence, lead with a purpose and to inspire those around you while achieving continued professional growth.

We are proud to have you part of the DGPCPA family and look forward to seeing you thrive in your new roles.

Once again, congratulations and best wishes as you take on new challenges and responsibilities.

Wishing you all the best in your new position.

Tax Update: VAT on Digital World.

Republic Act (RA) No. 12023 or the Value-Added Tax on Digital Services was signed into law by President Ferdinand R. Marcos, Jr. on October 2, 2024. This covers the foreign Non-Resident Digital Service Providers (NRDSPs).

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 78-2025 to provide the guidelines for the implementation of the 12% Value-Added Tax (VAT) on digital services supplied by Non-Resident Digital Service Providers (NRDSPs) to customers in the Philippines.

The circular covers foreign companies that provide digital services such as streaming platforms, cloud computing, software subscriptions (SaaS), online advertising, digital marketplaces, mobile applications, and other internet-based services.

These providers are required to register with the BIR, enroll in the VAT on Digital Services (VDS) Portal, file quarterly VAT returns, and pay the corresponding VAT electronically.

It is important to understand that VAT treatment depends on the type of transaction.

For Business-to-Consumer (B2C) transactions, the nonresident digital service provider is responsible for collecting the 12% VAT from the consumer and remitting it to the BIR.

For Business-to-Business (B2B) transactions involving VAT-registered Philippine businesses, the Philippine business may be required to account for the VAT in accordance with the applicable tax rules under the Reversed VAT payment scheme.

VAT returns must be filed on or before the 25th day of the month following the end of each taxable quarter. Failure to comply may result in surcharges, interest, and other penalties under the National Internal Revenue Code.

RMC No. 78-2025 establishes a clear compliance framework for foreign digital service providers while helping ensure that digital services consumed in the Philippines are subject to VAT in a manner comparable to similar services offered by local businesses.

Philippine businesses and consumers may also notice the 12% VAT reflected in the prices of digital subscriptions and online services.

For more information, you may reach our office at [email protected] or visit our website at dgpcpa.org.

Please join us in welcoming our newest Audit and Tax & Accounting Associates of De Guzman Pascual Associates.🥳🥳

We are pleased to have them join our team and look forward to the skills, dedication, and fresh perspective she brings to our organization.🤩

Welcome to the DGP family, Ms. Cyra, Allyza ,Shane and Mr Kurt! We wish you success as you begin this exciting new chapter with us. ❤️💙

Congratulations to managing partner Mr. Randolf B. de Guzman for appointing as Treasurer of Philippine Institute of Certified Public Accountant (PICPA) - Laguna Chapter for the fiscal year 2026-2027.

This appointment reflects a strong commitment to professional excellence, integrity, and service to the accounting profession.

With immense gratitude-
we wish you a successful and meaningful term!

We humbly share that our firm was invited by TGS Global to participate with their 2026 TGS Practice Leadership Retreat Asia-Pacific Conference held on July 5 & 6, 2026 at Merusaka Nusa Dua, Bali, Indonesia.

Represented by our firm's Managing Partner, Mr Randolf De Guzman together with our firm's legal consultant, Atty. Alia Jan Delgado and one of directors of our corporate affairs Ms. Angelica Benosa.

Bringing together partners and industry leaders across the Asia-Pacific region, the retreat provided a valuable platform to exchange ideas, strengthen global connections, and explore the future of accounting, tax, and legal advisory—with discussions centered on leadership, business innovation, human resource, digitalization, and cross-border collaboration.

We extend our sincere appreciation to TGS Global for hosting this inspiring event and for fostering meaningful conversations that empower firms to grow, innovate, and create greater value for clients.

Together, we continue to embrace learning, strengthen partnerships, and shape the future of professional services.

We would like to congratulate our amazing team member from our Corporate Department Ms. Mandy B. Ora on her well-deserved graduation! 🌟

Your hard work, determination, and commitment have truly paid off. Balancing your professional responsibilities while pursuing your education is an inspiring achievement, and we couldn't be prouder of you.

Wishing you continued success as you reach new milestones in both your career and personal journey. Your future is bright, and we're excited to see all that you'll accomplish.

Congratulations once again to this incredible achievement! 👏🎓✨

In celebration of Philippine Accountancy Week (July 12–18, 2026), De Guzman Pascual Associates, CPAs proudly joins in recognizing the invaluable contributions of accountants, educators, professionals, and aspiring CPAs in nation-building.

Pursuant to Proclamation No. 218, s. 2002, this week honors the accountancy profession and its enduring contribution to the country's growth and development.

As a professionals, may we continue to uphold the highest standards of the accountancy profession while striving for excellence in everything we do.

Happy Philippine Accountancy Week! 📚🥳

📌 Regulatory Update | Bangko Sentral ng Pilipinas (BSP)

The BSP has issued guidelines requiring all covered BSP-Supervised Financial Institutions (BSFIs), including rural banks, to submit an Audited Financial Statements Self-Assessment Checklist (AFS-SAC) together with their Audited Financial Statements (AFS), beginning with the 2025 AFS.

Highlights:
• The AFS-SAC shall accompany the AFS upon submission to the BSP.
• Submission is through the BSP-designated official email addresses only.
• The AFS-SAC and AFS must be submitted within 120 calendar days after the close of the institution's calendar or fiscal year.

Covered BSP-supervised institutions may wish to review their existing year-end financial reporting and AFS submission procedures to ensure alignment with the new guidelines.

For more information, please refer to BSP Memorandum No. M-2026-24 dated 05 June 2026, "Guidelines on the Submission of the Self-Assessment Checklist as part of the Submission of Audited Financial Statements," and its attached annexes.

JULY 2026 𝐃𝐞𝐚𝐝𝐥𝐢𝐧𝐞⏰⏰

Don't forget to file your taxes on time to avoid penalties and unnecessary stress. Stay compliant and keep your records updated

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