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“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

Posted by on October 10th, 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

Posted by on September 19th, 2022

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)

Posted by on September 5th, 2022

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 […]

When is EIS/EIRS applicable?

Posted by on August 24th, 2022

Non-compliance by large taxpayers, e-commerce and export oriented businesses may result to penalties, input VAT or expense disallowance as per RR. Nos. 08-2022 & 09-2022 Frequently Asked Questions (FAQs): 1. What is a Electronic Invoicing System (EIS)? Answer: EIS is capable of storing and processing data required to be transmitted by covered taxpayers using their […]

UHY MAC’s 2022 Midyear Motivational Empowers The Professional’s Mind and Heart Towards Future Success Amid Modern Challenges

Posted by on August 16th, 2022

Dynamic cost, tax, system, and ‘doing business’ advisory accounting firm UHY M.L. AGUIRRE &CO., (UHY MAC) CPAs recently concluded its 2022 Midyear Motivational hybrid event on August 12 onsite at the UHY MAC conference room and via live streaming platform Zoom. The event aims to empower further and inspire the firm’s employees, its specialists from […]