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Clarifications on the Issues Raised on the Proper Tax Treatment of Cross Border Services per Revenue Memorandum Circular No. 5-2024

21 Mar 2024

This Tax Alert is issued to inform all concerned on the clarifications on issues raised on the proper tax treatment of cross border services as provided in Revenue Memorandum Circular (RMC) No. 5-2024, in light of the Supreme Court en Banc Decision in Aces Philippines Cellular Satellite Corp. v. CIR, GR No. 226680, dated August 30, 2022.

Updated Manual of Regulations for Banks (MORB) and Non-Bank Financial Institutions (MORNBFI) as of 31 December 2021

20 Mar 2024

This Accounting Alert is issued to circulate BSP Circular No. 1189 dated February 8, 2024 which summarizes the amendments to the MORB and MORNBFI.

Amendments to Persons Exempted from Attending Seminar on Corporate Governance for Board of Directors

18 Mar 2024

This Accounting Alert is issued to circulate BSP Circular No. 1188 dated February 1, 2024.

Minimum Corporate Income Tax (MCIT) Rates for Taxable Years ending from July 31, 2023 to June 30, 2024

14 Mar 2024

This Tax Alert is issued to inform all concerned on the applicable MCIT rate for the accounting periods ending from July 31, 2023 to June 30, 2024, pursuant to Republic Act No. 11534, otherwise known as the “Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act”.

Securing & Expanding Capital for PowerGen Operators & Wholesale Electricity & Retail Services

11 Mar 2024

Republic Act (RA) No. 9136, otherwise known as the "Electric Power Industry Reform Act of 2001 (EPIRA) provides that it is the policy of the State to enhance the inflow of private capital and broaden the ownership base of the power generation, transmission and distribution sectors. The said law also requires generation companies and distribution utilities which are not publicly listed to offer and sell to the public a portion of not less than fifteen percent (15%) of their common shares of stock.