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SEC integrates compliance requirements with eSPARC, OneSEC and eFAST

22 Jan 2024

The Securities and Exchange Commission (SEC), in its Memorandum Circular (MC) No. 23, series of 2023, integrates certain compliance requirements from SEC MC No. 28, series of 2020 (MC 28) and SEC MC No. 1, series of 2021 (MC 1) with the SEC Electronic Simplified Processing of Application for Registration of Company (eSPARC), One-day Submission and E-registration of Companies (OneSEC) and the SEC Electronic Filing and Submission Tool (eFAST).

Guidelines on the Pag-ibig Funds Implementation of Increase in the Maximum Fund Salary (MFS) effective February 2024

18 Jan 2024

Relative to this Circular, the new mandate is having the increase from one (1) to two (2) percent contribution both for employer and employee.

Tax Mapping Reminders

18 Jan 2024

To ensure that you are ready when the BIR conducts tax mapping operations, please prepare your books of accounts, ensure updated recording, display your Certificate of Registration 2303, BIR form 0605 RF, NIRI (Notice to issue receipts/invoices). These must be displayed in any conspicuous place of business establishment and available for inspection.

Ease of Paying Taxes (EOPT) Act

14 Jan 2024

This Tax Alert is issued to inform all concerned on the significant provisions of the Ease of Paying Taxes (EOPT) Act or Republic Act (RA) No. 11976 which shall take effect on January 22, 2024. The summary below is a comparison of the current tax rules and the significant amendments to the National Internal Revenue Code (NIRC) of 1997 geared towards safeguarding taxpayer rights and welfare, modernizing tax administration, providing mechanisms to encourage proper and easy compliance, updating the taxation system, and adopting best practices.

Payment of Annual Registration Fee no longer required effective January 22, 2024

09 Jan 2024

This Tax Alert is issued to inform all concerned that the Bureau of Internal Revenue (BIR) will cease to collect the Annual Registration Fee (ARF) effective January 22, 2024, pursuant to Republic Act No. 11976 or the “Ease of Paying Taxes Act.”