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THE Bureau of Internal Revenue issued Revenue Regulations (RR) No. 7-2017 to amend certain provisions covering taxation on sale of gold and other metallic mineral products to the Bangko Sentral ng Pilipinas (BSP). RR No. 7-2017 reduces the BSP’s obligation as withholding agent of the creditable withholding tax on mineral sales from a withholding tax rate of five percent to one percent.

BEGINNING Jan. 16, the Social Security System (SSS) will introduce the electronic Collection System (e-CS) to facilitate the real-time posting of SSS contribution payments.

IN response to the growing health care financing needs of members and to ensure the sustainability of health care benefits, the Philippine Health Insurance Corp. (PhilHealth) issued PhilHealth Circular No. 2017-0024 last Nov. 1.

THE Bureau of Internal Revenue issued Revenue Memorandum Circular (RMC) No. 95-2017 last Nov. 10. RMC No. 95-2017 provides guidelines on the proper tax treatment of the Government Securities Repurchase Program (GS Repo Program) governed by the Global Master Repurchase Agreement (GMRA), a program intended to contribute to building a deeper and more liquid bond market to further promote capital market development in the Philippines.

THE Securities and Exchange Commission (SEC) – Cebu Extension Office will fully adopt the online Company Registration System (CRS) starting Nov. 24, in line with the government’s initiatives to ease the conduct of doing business in the Philippines.

PREVIOUSLY, the signatory of an electronic certificate authorizing registration (eCAR) is either the Revenue District Officer (RDO) or the Assistant Revenue District Officer (ARDO) in cases where either one of the signatories is absent.

THE Department of Labor and Employment (DOLE) recently issued Labor Advisory No. 13 Series of 2017, providing rules for pay during the special non-working days last Oct. 31 and Nov. 1.

TO secure the welfare of workers, the Department of Labor and Employment (DOLE) issued Department Order No. 184, requiring all employers to establish appropriate control measures to address the safety and health risks of workers who spend long hours sitting at work, such as those involved in computer, administrative, and clerical work, those working in highly mechanized establishments, fields of transportation, toll booths, information technology, and business process management, and all other processes and industries where sedentary work is observed.