Getting a Letter of Authority (LOA) from the Bureau of Internal Revenue (BIR) can instantly make anyone anxious. For most taxpayers, it signals one thing: an audit is coming . But before you stress out, gather documents, or entertain anyone claiming to be from the BIR, there’s one important question you should ask first: Is This LOA Actually Valid? Thanks to a new BIR initiative, you can now check that yourself— online . A New Tool to Protect Taxpayers In January 2026 , the

The Securities and Exchange Commission (SEC) has announced significant updates to corporate disclosure requirements with the release of SEC Memorandum Circular No. 15, Series of 2025 , paving the way for the full implementation of the Beneficial Ownership (BO) Disclosure Rules of 2026 . These changes aim to streamline corporate filings, improve transparency, and strengthen regulatory oversight—particularly in identifying the true owners and controllers of corporations. What’s

Updated for Philippine Businesses | January 2026 Running a business in the Philippines just got a little easier—especially for small and growing companies. The Securities and Exchange Commission (SEC) has officially increased the audit threshold under its latest issuance, SEC Memorandum Circular No. 4, Series of 2026 . This update reduces compliance costs for many corporations while maintaining accountability and transparency. If you own, manage, or advise a business, here’s

The Bureau of Internal Revenue (BIR) has rolled out a new reform agenda called BIR D.A.R.E.S. — and one key message stands out for taxpayers and businesses: Audits will resume, but under “new rules.” If you currently have a pending Letter of Authority (LOA) , were recently flagged for audit, or simply want to avoid surprises once field audits return, this serves as your early heads-up. Below is a simplified guide to: what BIR DARES means, what changes to expect when audits

A Practical Guide for Businesses (2026) At our firm, we regularly assist businesses facing issues with local taxes and permit-related charges imposed by cities and municipalities. These disputes often arise during business permit renewal or after receipt of a demand or assessment from the local treasurer. This guide explains—clearly and practically—the remedies available under Philippine law for local tax and local fee disputes ( excluding real property tax ), including the p

As the Bureau of Internal Revenue (BIR) continues to enforce stricter compliance and digitalization measures, businesses using Loose-Leaf Books of Accounts must be aware of the 2026 registration deadlines and requirements applicable to Taxable Year 2025 . This article provides a clear and updated guide on binding deadlines, ORUS registration procedures, and compliance reminders for 2026. What Are Loose-Leaf Books of Accounts? Loose-leaf books allow businesses to record tra

CPA–Law Firm’s Smart Reminder for Businesses and Branches As we enter business permit renewal season for 2026 , all Philippine-registered businesses—whether service, trading, or manufacturing —are reminded that compliance with local government unit (LGU) requirements is not merely administrative but tax-critical . This guide provides a concise yet technically sound reminder , aligned with the Local Government Code of 1991 (RA 7160) and prevailing LGU ordinances, using Makat

If you’re a business owner, employer, or taxpayer in the Philippines, 2026 is a critical compliance year because most annual reportorial requirements for Taxable Year 2025 (Calendar Year: Jan–Dec 2025) are due January to April 2026 . This guide summarizes the 2026 BIR annual deliverables (Inventory List, Loose-Leaf/CAS, Alphalists, and Annual ITR) plus the key LGU renewal requirement to help you avoid penalties and BIR audit exposure. Quick 2026 Deadline Table (Taxable Ye

The Securities and Exchange Commission (SEC) has issued SEC Memorandum Circular No. 1, Series of 2026 , introducing significant amendments to the Implementing Rules and Regulations (IRR) of the Real Estate Investment Trust (REIT) Act of 2009. These changes are intended to modernize the Philippine REIT framework, align it with regional standards, and strengthen investor protection. For REIT sponsors, fund managers, property owners, and investors, these updates carry important

Calendar Year Ended 2025 | SEC and BIR Compliance (Philippines) As we enter 2026 , companies and taxpayers in the Philippines must prepare for the submission of Audited Financial Statements (AFS) for the calendar year ended December 31, 2025 . With new and reinforced regulations from the Securities and Exchange Commission (SEC) and the Bureau of Internal Revenue (BIR) , compliance is now more structured, digital, and strictly enforced . This guide explains: Who is required

The Bureau of Internal Revenue (BIR), through Revenue Regulations (RR) No. 29-2025 , has officially increased the ceiling for de minimis benefits exempt from income tax and fringe benefits tax. This amendment updates RR No. 2-98 and provides welcome relief to both employers and employees. The regulation was issued pursuant to Sections 4, 33, and 244 of the National Internal Revenue Code of 1997 , as amended. What Are De Minimis Benefits? De minimis benefits are facilities

What Corporations Must Know Before 2026 The Securities and Exchange Commission (SEC) has issued SEC Memorandum Circular No. 15, Series of 2025 , introducing the Revised Beneficial Ownership Disclosure Rules —a sweeping regulatory update that significantly strengthens corporate transparency, anti-money laundering controls, and enforcement mechanisms in the Philippines. Set to take effect on 1 January 2026 , the new rules replace and consolidate earlier issuances and align Phil

For many years, documentary stamps were treated as a routine administrative requirement—purchased, affixed, and largely overlooked. With the issuance of Revenue Regulations No. 028-2025 , the Bureau of Internal Revenue (BIR) is clearly signaling a shift. The use of electronic Documentary Stamp Tax (eDST) is no longer merely encouraged; for certain industries, it is becoming the expected standard. This development marks a significant change in how Documentary Stamp Tax is adm

EastWest Rural Bank v. PNP Anti-Cybercrime Group (G.R. No. 273720) In a landmark ruling, the Philippine Supreme Court clarified the scope of bank secrecy in the age of cybercrime. The decision in EastWest Rural Bank v. Philippine National Police Anti-Cybercrime Group resolves a long-standing tension between the Law on Secrecy of Bank Deposits and the Cybercrime Prevention Act of 2012 —particularly on whether banks may be compelled to disclose account holder information duri

What This Means for the Future of Notary Services in the Philippines The Supreme Court of the Philippines has officially opened its doors for Electronic Notarization Facility (ENF) Providers to apply for accreditation—marking a major milestone in the country’s digital transformation of legal services. Beginning December 9, 2025, technology companies, platforms, and legal tech innovators can now seek Supreme Court accreditation to operate as ENF Providers under the Electronic

Disclaimer: This article is for educational purposes only and does not constitute legal advice. For guidance on specific legal situations, consult a licensed attorney. When recent reports surfaced involving a public figure filing a qualified theft complaint against a sibling, many readers sought clarity on how Philippine law treats theft, qualified theft, and family exemptions. This article provides a neutral, simplified explanation of the relevant legal concepts—without re

(c) ABS-CBN News On September 12, 2025, President Ferdinand “Bongbong” Marcos Jr. signed into law Republic Act No. 12289 , also known as the Accelerated and Reformed Right-Of-Way (ARROW) Act . Sponsored by Sen. Mark Villar, the ARROW Act aims to streamline, modernize, and accelerate right-of-way (ROW) acquisition for national infrastructure projects—while ensuring fair, transparent, and equitable compensation for affected landowners. The law updates and amends key provision

(As of November 24, 2025) The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 107-2025 , ordering a full suspension of all tax audits and field operations nationwide . This unprecedented move marks one of the most significant tax administration shifts in recent Philippine history. Businesses are now asking: How does this affect my ongoing audit, tax exposure, or next compliance cycle? If you are a corporate taxpayer, SME, professional, or ind

The tax landscape in the Philippines is seeing a major shift: Charlito Martin R. Mendoza has been announced as the new Commissioner of the Bureau of Internal Revenue (BIR) , replacing Romeo “Jun” Lumagui Jr. For businesses, taxpayers, and tax professionals, this is a development worth monitoring. As a leading CPA-law firm, Aureada CPA Law Firm examines who Commissioner Mendoza is, the context behind this leadership change, and its possible implications for compliance, audit

Micro, small, and medium enterprises (MSMEs) are the backbone of the Philippine economy. Recognizing their importance, the Securities and Exchange Commission (SEC) has proposed a major policy change to ease regulatory burdens — allowing more corporations to be exempt from filing audited financial statements. This initiative aims to reduce compliance costs and support the government’s broader goal of driving inclusive economic development. The SEC’s proposal, detailed in its p