SEC Memorandum Circular 6-2020: Guidelines on Remote or Electronic Communication or in Absentia
The Revised Corporation Code of the Philippines (R.A. No. 11232) and SEC Memorandum Circular No. 6 series of 2020 provides that a Corporation may authorize in its by-laws or through the majority vote of the Board of Directors or Trustees, the conduct regular and/or special meetings in absentia or through the use of remote communication […]
Securities and Exchange Commission (SEC) Memorandum Circular 37-2020: Regulatory Reliefs to Net worth, Investments and Government Period Requirements
SEC issued MC No. 37-2020 extending the regulatory reliefs to duly registered and licensed Financing and Lending Companies in accordance with R. A. 11494 (Bayanihan to Recover As One Act). The following are the regulatory reliefs available: 1. Relaxation of the required maintaining net worth of Financial Companies (FC) under Sec. 11 of Financing Company […]
Governments worldwide could do more to help tourism industry by cutting taxes
The Philippines could do more to help its struggling tourism industry by cutting taxes /extending tax cuts. Cuts to taxes on tourist related goods and services could help the Philippine tourism sector recover. The Philippine government could cut VAT and other taxes to attract visitors to the country when travel bans are lifted. So far, […]
SEC MC 28-2020: Requirements on Official Contact Information for SEC Transactions
The said circular is issued to facilitate and expedite the transmission and receipt of official communications as well enhance the integrity of every transaction. SEC strictly promulgated requirements and guidelines on the applications and submission of the pertinent documents. The email address and cellphone number of persons officially assigned for the purpose are required, as […]
REVENUE Memorandum Circular 118-2020: Availability of Offline Electronic BIR Forms Package Version 7.7
The said circular is issued to disseminate the availability of the new offline E-BIR forms. It includes the January 2018 version of the forms below. The 1604-C ( Annual Information Return of a income Taxes Withheld on Compensation) and the 1604-F (Annual Information Return of Income Payments subjected to Final Withholding Taxes) shall be filed on or before January […]