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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.

Application of PFRS 17 (Insurance contracts) to the Audited Financial Statements and Reportorial Requirements of the Insurance Commission

11 Mar 2024

This Accounting Alert is issued to circulate Insurance Commission (IC) Circular Letter No. 2024-04 dated March 1, 2024.

Deadline for the Submission of BIR Form 2316 to BIR extended to March 31, 2024

28 Feb 2024

This Tax Alert is issued to inform all concerned on the extension of deadline for the submission of BIR Form 2316 or the Certificate of Compensation Payment/Tax Withheld to BIR from February 28, 2024 to March 31, 2024.

Extension of Deadline for the Submission of Alphalist of Employees/Payees from Whom Taxes Were Withheld for taxable year 2023

21 Feb 2024

This Tax Alert is issued to inform all concerned on the extension of deadline for the submission of Alphabetical List of Employees/Payees from Whom Taxes Were Withheld (alphalist).