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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.

THE Bureau of Internal Revenue recently issued Revenue Memorandum Circular (RMC) No. 85-2017, reiterating the value-added tax (VAT) treatment of sales to government, particularly on the preparation of the approved budget for the contracts (ABC) of government projects, pursuant to existing regulations.

WITH the primary purpose of providing timely social security benefits to employees who are unable to work due to sickness, injury, child birth, or miscarriage, SSS Circular No. 2017-006 reminds employers to pay the following benefits in advance:

TO make transactions with the Home Development Mutual Fund (Pag-ibig) more convenient and secure for its members, Pag-ibig can now release short term loan (STL) proceeds to its members through the Development Bank of the Philippines (DBP) prepaid card starting Sept. 21, aside from the existing means through checks, Citibank’s prepaid cards and Landbank cash cards.