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Amendments on the 2015 Implementing Rules and Regulations of the Securities Regulation Code (The "2015 SRC Rules") and SEC Memorandum Circular No. 16, Series of 2004 Relative to the Settlement Cycle from T+3 to T+2

08 Sep 2023

This Accounting Alert is issued to circulate Securities and Exchange Commission (SEC) Memorandum Circular (MC) No. 11-2023 dated August 11, 2023, Amendments on the 2015 Implementing Rules and Regulations of the Securities Regulation Code (The "2015 SRC Rules") and SEC Memorandum Circular No. 16, Series of 2004 Relative to the Settlement Cycle from T+3 to T+2.

Lack of exchangeability

07 Sep 2023

This Accounting Alert is issued to circulate the IFRS alert regarding the amendment of IAS 21, The Effects of Changes in Foreign Exchange Rates, to help users understand the impact of a lack of exchangeability on the financial statements.

Revised BIR Form No. 2200-M is now available for download in BIR website (www.bir.gov.ph) under BIR Forms-Excise Tax Return Section

30 Aug 2023

This Tax Alert is issued to inform all concerned taxpayers, revenue officials and employees that the newly revised BIR Form No. 2200-M [Excise Tax Return for Mineral Products] January 2018 (ENCS) v2 hereto attached as Annex “A” is already available for download in BIR website (www.bir.gov.ph) under BIR Forms-Excise Tax Return Section.

Clarifications on VAT zero-rating of Registered Export Enterprises (REEs) and Other Entities Granted with VAT Zero-Rate Incentives under Special Laws and International Agreements

30 Aug 2023

This Tax Alert is issued to inform all concerned on the clarifications on the provisions of Revenue Regulations (RR) No. 3-2023 and certain issues and concerns pertaining to transactions with other entities granted with VAT zero-rate incentives on local purchases under special laws and international agreements.

ISSB unveils first-ever Sustainability Disclosure Standards

11 Aug 2023

The International Sustainability Standards Board (ISSB) released its first-ever sustainability standards – IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures (the Standards) on June 26, 2023. This signifies a momentous turning point in the sustainability reporting landscape, aiming to establish a global common language for sustainability reporting.