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The Philippine government imposes different types of withholding taxes that businesses should remit to the BIR. One of the common issues that the BIR includes in their tax assessment is deficiency withholding tax due to alleged non-compliance to withholding tax rules. But worry no more as we will help you navigate the world of withholding […]

New and Revised PFRSs for Annual Periods beginning on or after January 01,2023

Amendments to Philippine Accounting Standards (PAS) I. Effective beginning on or after January 1, 2023 The following amendments to Philippine Accounting Standards (PAS) are effective for annual periods beginning on or after January 1, 2023: Amendments to PAS 1, Presentation of Financial Statements and PFRS Practice Statement 2 Making Materiality Judgements—Disclosure of Accounting Policies Amendments […]

Further clarification of issues raised in transitory provisions for the VAT Zero-rate Incentives

VAT treatment for the local purchases of Registered Export Enterprises (REEs) and change of its status from VAT to Non-VAT The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 152-2022 on December 7, 2022, to further clarify some of the issues raised in previously issued Revenue Regulation (RR) No. 21-2021 as clarified […]

Significant Amendment to Glean from Revenue Memorandum Circular (RMC) No. 3-2023

Policies and Guidelines on the Online Registration of Books of Accounts (BAs) On digitalizing its operations, the Bureau of Internal Revenue (BIR) alerted the taxpayers regarding RMC No.3-2023, amending Section 2 of RMC No.29-2019, which prescribes the policies and guidelines on the online registration of Book of Accounts (BAs).  All BAs shall be registered online […]

The Crux of R.A. 11934 or the SIM Registration Act

General Rules and Guidelines for Registration of SIMs The Republic Act 11934 or also known as the “Subscriber Identity Module (SIM) Card Registration Act,” was signed into law on October 10, 2022, requiring end-users to register their new or existing SIM cards with their respective Public Telecommunications Entities (PTEs) within 180 days from the law’s […]

Heads up on new revisions from the Insurance Commission re: On-site Examination and Off-site Verification Rules and Procedures

In case you’re not yet familiar with the latest business and financial news, the Insurance Commission in charge of regulating insurance companies in the Philippines has recently issued substantial alterations that need the attention of its stakeholders.  Recently, the Commission issued a new set of rules and procedures called IC CL No. 2021-65, otherwise known […]

“Ask For Receipt” of existing taxpayers shall only be valid until June 30, 2023, due to Notice to Issue Invoice/Receipt (NIRI) per RMO 43-2022

The new BIR Notice to Issue Invoice/Receipt (NIRI) was introduced under Revenue Regulation (RR) No. 10-2019 which requires taxpayers to issue receipts/invoices for the sale of goods or services rendered. Now with the newly issued policies, procedures, and guidelines of BIR Revenue Memorandum Order (RMO) 43-2022, “Ask For Receipt” shall only be valid until June […]

Impact of SEC Memorandum Circular No. 1 – Series of 2022, on the Companies’ Financial Reporting and Practitioners’ Engagement Performance

SEC requires the preparers of financial statements and audit practitioners to consider and comply with the newly adopted Philippine Financial Reporting Standards (PFRS) and Philippine Standards on Auditing (PSA) On January 27, 2022, the Securities and Exchange Commission (SEC) mandated the consideration of certain Philippine Standards on Auditing (PSA) and Philippine Financial Reporting Standards (PFRS) […]

Taxation of PH Based Offshore Gaming Licensee and their Accredited Service Providers (RR No. 20-2021)

Q1: What are OGL and Accredited Service Providers? Are they considered POGO? Answer: Both are considered as POGO, however, OGL refers to an Offshore Gaming Operator, regardless of where it is organized, duly licensed, and authorized through a gaming license issued by a POGO Licensing Authority to conduct offshore gaming operations, including the acceptance of […]


SAIDI-GSOD in partnership with iLEAD Academy presents the Total Quality Management (TQM) Application & Orientation Webinar.

This Programme is designed for Organizations who looks into improving efficiency across their management’s organization and performance. This Webimar will be conducted by Professor Jane Aliwalas who had 3 decades of experience with various operation management roles in multiple industries.

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