The Securities and Exchange Commission has recently issued a notice to inform the public that the submission of the Beneficial Ownership Transparency Declaration Form (BOTD Form) for newly registered corporations and existing corporations can now be made online. This is pursuant to: Section 6 of Memorandum Circular 1, Series of 2021, which mandates the disclosure of the person on whose behalf the corporation is registered and the nominators/principals of nominee incorporators/ first directors/ trustees and shareholders of corporations applying for registration, within 30 days from the issuance of the company’s Certificate of Registration; and Section 7 of the same memorandum circular that mandates the disclosure of nominators/principals/ persons on whose behalf one acts as director/ trustee/ shareholder of existing corporations.
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As part of its series of issuances on the Computerized Accounting System (CAS), the Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Order (RMO) 9-2021 which prescribes the simplified guidelines and procedures on the use of CAS, Computerized Books of Accounts (CBA) and/or its Components, including the Electronic Storage System (ESS), Middleware and Other Similar Systems. The RMO, issued on Feb. 19, 2021, supplements the provisions of Revenue Memorandum Circular 5-2021 in streamlining the documentary requirements and in simplifying the process of registration of these systems.
Reduced CIT rate of 20 percent shall be applicable to domestic corporations with net taxable income not exceeding P5,000,000 and with total assets not exceeding P100 million (excluding land on which the business entity’s office, plant and equipment are situated)
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 17-2021 dated Jan. 26, 2021 to inform all concerned taxpayers that the deadline of filing and submission of the following returns and attachments are extended from Jan. 31, 2021 to Feb. 28, 2021:
THE Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) 15-2021 to announce the relaunching of the Central Business Portal (CBP).
The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) 02-2021 in reference to RMC 112-2020 to inform all concerned on the guidelines on the suspension of enlisting and delisting of Large Taxpayers by the BIR.
The Bureau of Internal Revenue (BIR) recently issued Revenue Regulation 05 to inform all concerned on the following streamlined procedures in the application for registration of Computerized Accounting System (CAS), Computerized Books of Accounts (CBA) and/or its components, including Electronic Storage System (ESS), Middleware and other similar systems.
THE Philippine Health Insurance Corp. (PhilHealth) has suspended the increase in members’ monthly premiums for the year 2021 in response to the directive of managing the impact of the Covid-19 pandemic. The deferment is an interim arrangement until Senate Bill 1966, seeking suspension of such increase, is passed into a law.