Executive Summary Many business owners use the terms MOA, contract, and MOU interchangeably. They may sound similar, but they are not always the same. A contract is generally a legally binding agreement that creates enforceable obligations between the parties. A Memorandum of Agreement, or MOA, usually contains more specific duties, responsibilities, timelines, deliverables, and commitments. A Memorandum of Understanding, or MOU, is often used to record the parties’ shared i

Executive Summary The Securities and Exchange Commission has announced another reduction in corporate data fees, making it more affordable for businesses, lawyers, accountants, investors, researchers, and the public to request corporate documents. Under SEC Memorandum Circular No. 18, Series of 2026, effective June 1, the SEC granted an additional 25% discount on corporate document request fees. This new reduction comes after the earlier 50% reduction under SEC Memorandum Cir

Executive Summary A business contract is more than a document signed at the start of a transaction. It is a legal roadmap that defines what each party must do, when payment must be made, what happens if something goes wrong, and how disputes will be resolved. Under Philippine law, contracts have the force of law between the parties and should be complied with in good faith. This means that once a valid contract is signed, the parties are generally bound by its terms. A poorly

Executive Summary Financing companies in the Philippines are regulated businesses. They cannot legally operate by simply incorporating with the Securities and Exchange Commission, or SEC. A financing company must first be organized as a corporation and must secure the proper authority from the SEC before engaging in financing activities. The main law governing financing companies is the Financing Company Act of 1998, or Republic Act No. 8556. This law recognizes the important

Introduction Public office is not merely a position. It is a continuing trust. In the judiciary, that trust is even more exacting. Every attendance record, travel document, reimbursement paper, certificate, and official signature carries institutional weight because the courts are expected to embody the integrity they demand from litigants. When a court employee falsifies documents, misuses another employee’s identity, or claims public funds without authority, the injury is n

Executive Summary Choosing the right business structure is one of the first major decisions every entrepreneur must make. In the Philippines, many business owners compare three common options: a One Person Corporation, a regular corporation, and a partnership. Each structure has advantages and disadvantages. The best choice depends on your ownership setup, business goals, liability concerns, tax planning, investor plans, compliance capacity, and long-term growth strategy. A O

Executive Summary A BIR Letter of Authority, commonly called an LOA, is one of the most important documents in a Philippine tax audit. It is the document that gives specific BIR revenue officers the legal authority to examine a taxpayer’s books, accounting records, tax returns, and supporting documents. In simple terms, the LOA is the legal starting point of a valid BIR audit. Without a valid LOA, or when the audit is conducted by revenue officers who are not properly authori

Introduction A business crisis does not give an employer a blank check to reduce employees’ workdays, cut their take-home pay, and later defend the measure as “management prerogative. That is the central lesson of the Supreme Court En Banc ruling in Andro T. Bacani, et al. v. Fiber Textile Manufacturing Corp., et al., G.R. No. 271518. The decision is one of the most consequential recent Philippine labor law rulings on flexible work arrangements, reduced workdays, worker rotat

Introduction A marriage case under Article 36 of the Family Code is never merely about failed affection, marital disappointment, or ordinary incompatibility. It asks a more exacting legal question: was one spouse, at the time of the marriage, psychologically incapacitated to assume the essential obligations of married life? In Republic of the Philippines v. Ma. Theresa Ramoran-Wong and Vincent L. Wong, G.R. No. 276986, the Supreme Court revisited this question through the pos

Executive Summary Lending companies in the Philippines are regulated mainly by the Securities and Exchange Commission (SEC) under the Lending Company Regulation Act of 2007, or Republic Act No. 9474. Under this law, a lending company must be organized as a corporation and must secure a valid Certificate of Authority to Operate from the SEC before engaging in lending activities. SEC registration alone is not enough. The law expressly states that no lending company may conduct

The Resolution That Quietly Reaffirmed Institutional Discipline In a politically charged petition involving Senator Ronald “Bato” Dela Rosa and former President Rodrigo Duterte, the Philippine Supreme Court En Banc denied the application for a Temporary Restraining Order (TRO) and Status Quo Ante Order (SQAO) against the enforcement of potential International Criminal Court (ICC)-related arrest mechanisms. At first glance, the ruling appears procedural. In reality, it is deep

Executive Summary Registering a corporation in the Philippines is now easier because most of the process is done online through the Securities and Exchange Commission, or SEC. The main online platform is SEC eSPARC, which stands for Electronic Simplified Processing of Application for Registration of Company. Through eSPARC, applicants can use either OneSEC Processing for simpler applications or Regular Processing for corporations that need more review. SEC also states that ZE

Businesses regulated by the Bangko Sentral ng Pilipinas do not just need any external auditor. They generally need an auditor who is included in the BSP’s official List of Selected External Auditors. This requirement applies to BSP-supervised financial institutions, commonly called BSFIs. The BSP treats external auditors as important partners in promoting sound governance, reliable financial reporting, and public confidence in the financial system. What Is a BSP-Accredited Au

Financial institutions in the Philippines are expected to maintain strong audit, compliance, and internal control systems. For banks and other BSP-supervised financial institutions, audit is not just an annual requirement. It is part of good governance, risk management, and public trust. The Bangko Sentral ng Pilipinas (BSP) considers external auditors important partners in promoting the safety and soundness of BSP-supervised financial institutions, especially through audits

Tax filing season may be over, but for many businesses, the real work is just beginning. After months of preparing financial reports, submitting tax returns, and meeting compliance deadlines, many companies are left with messy books, unresolved entries, missing documents, and accounting records that no longer match actual business activity. This is where accounting cleanup becomes essential. In 2026, businesses in the Philippines face increasing pressure to maintain accurate

Corporate compliance in the Philippines can be complex, especially with requirements from the SEC, BIR, and local government units (LGUs). Many corporations both startups and established businesses face penalties and delays not because of major violations, but due to simple, avoidable mistakes. Understanding these common compliance errors can help your business stay on track, avoid fines, and maintain good standing. Why Compliance Mistakes Happen Most compliance issues arise

Submitting your Audited Financial Statements (AFS) is a major step in corporate compliance, but the process does not always end after uploading or filing. For companies in the Philippines, the post-submission period is important because regulators, auditors, banks, or other stakeholders may still review your documents. Understanding what happens after AFS submission helps your business stay prepared, organized, and compliant. What Happens After You Submit Your AFS? After subm

Choosing the right auditor is not just about compliance it’s about protecting your business. In the Philippines, working with an auditor accredited by the Board of Accountancy (BOA), Bureau of Internal Revenue (BIR), Securities and Exchange Commission (SEC), and Bangko Sentral ng Pilipinas (BSP) ensures that your financial statements meet regulatory standards and are trusted by authorities, banks, and stakeholders. This guide explains why accreditation matters and how it bene

Filing your tax returns and SEC reports is a major milestone but compliance doesn’t end there. For corporations in the Philippines, the post-filing period is just as important. This is when regulators like the BIR and SEC may review your submissions, verify your records, and check for consistency. Having a clear post-filing compliance process helps your business stay organized, avoid penalties, and remain audit-ready. Why Post-Filing Compliance Matters Many companies assume t

Closing a business is never easy but when the time comes, it’s important to do it properly. In the Philippines, dissolving a corporation is a legal process that must be completed with the Securities and Exchange Commission (SEC) and the Bureau of Internal Revenue (BIR), along with other government agencies. Failing to follow the correct process can lead to ongoing tax liabilities, penalties, and compliance issues even if the business is no longer operating. This guide explain