The Securities and Exchange Commission (SEC) released Memorandum Circular No. 9‑2026 on 13 February 2026, outlining updated rules for the filing of annual financial statements (AFS) and the general information sheet (GIS).
The Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 12026 to clarify and streamline the application of value-added tax (VAT) on local sales made by registered business enterprises (RBEs).
On February 4, 2026, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 10-2026. The circular covers cash donations made during the same calendar year, to natural or juridical persons including organizations, foundations, and institutions.
On 27 January 2026, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 08-2026, formally lifting the suspension on all tax audits and field operations under RMC No. 107-2025.
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order (RMO) No. 1-2026, with the goal to create a more transparent, fair, and predictable audit process by revising how audits are initiated, conducted, and concluded.
The Bureau of Internal Revenue (BIR) suspended audit operations on 24 November 2025 through Revenue Memorandum Circular (RMC) No. 107-2025, to recalibrate its audit processes, strengthen internal controls, and address longstanding issues such as fake letters of authority (LOAs), unauthorised audits, and inconsistent audit practices. The suspension created the opportunity for the BIR to rebuild its audit framework and restore taxpayer confidence. After the internal reforms were completed, the BIR lifted the audit suspension through RMC No. 82026, allowing audit activities to resume under stricter safeguards and enhanced verification protocols.
