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 […]
Securities and Exchange Commission (SEC) Notice on Reportorial Deadline: Extension of Deadlines and Interim Procedures for the Submission of Printed or Hard Copies of Annual Reports
The SEC extends the deadline for the submission of the printed and hard copies of AFS and GIS and reiterated the Interim filing procedures. Corporations with fiscal year ending May 31, 2020 and June 30, 2020 shall likewise have 30 days from the original deadline to submit the printed or hard copies of the AFS. […]
SEC Memorandum Circular. NO. 30-2020: Revision of General Information Sheet of Foreign Corporation to include Beneficial Ownership Information
Disclosure of Beneficial Ownership of Foreign Firms The Philippine Securities and Exchange Commission (SEC) is directing all foreign corporations (such as Branch Office, Representative Office, Regional Area or Operating Headquarters) to fully disclose their beneficial owners. The issuance covers both the stock and non-stock foreign corporations. Non-compliance or failure to disclose such information will hold […]