1 2 3 4 5 6 7 8 9 10

PIC Q&A 2020-07, Accounting for the Proposed Changes in Income Tax Rates under the CREATE Bill

04 Feb 2021

This Accounting Alert is issued to circulate Philippine Interpretations Committee (PIC) Questions and Answers (Q&A) 2020-07 dated January 29, 2021 on accounting for the proposed changes in income tax rates under the CREATE Bill.

Revised Guidelines on the Declaration and/or Distribution of Dividends for IC-Regulated Entities

01 Feb 2021

This Accounting Alert is issued to circulate Insurance Commission (IC) Circular Letter (CL) 2021-02 dated January 7, 2021 on the revised guidelines on the declaration and/or distribution of dividends of all IC-regulated entities.

Regulatory Relief on the Non-imposition of Sanction for Breach in Single Borrower's Limit by Certain Foreign Bank Branches

19 Jan 2021

This Accounting Alert is issued to circulate Bangko Sentral ng Pilipinas (BSP) Memorandum No. M-2021-002 dated January 4, 2021 on the regulatory relief on the non-imposition of sanction for breach in single borrower's limit (SBL) by foreign bank branches established prior to Republic Act (R.A.) No. 10641 or the Foreign Bank Entry Liberalization Act.

Guidelines on the Electronic Submission of Report on Reclassification of Debt Securities Out of Fair Value Category

19 Jan 2021

This Accounting Alert is issued to circulate Bangko Sentral ng Pilipinas (BSP) Memorandum No. M-2021-003 dated January 8, 2021 on the guidelines on the electronic submission of report on reclassification of debt securities (RRDS) out of the fair value category for all BSP-Supervised Financial Institutions (BSFIs).

Philippine Interpretations Committee Question and Answer 2020-05

11 Jan 2021

This Accounting Alert is issued to circulate Philippine Interpretations Committee (PIC) Questions and Answers (Q&A) 2020-05 dated November 6, 2020 which supersedes PIC Q&A 2018-14 on accounting for cancellation of real estate sales.