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Insights into PFRS 3 - Reverse Acquisitions outside Scope

23 Sep 2022

This Accounting Alert is issued to provide an overview of Philippine Financial Reporting Standards (PFRS) 3, Business Combinations, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact reporting entities.

Insights into PFRS 3 - Reverse Acquisitions within Scope

22 Sep 2022

This Accounting Alert is issued to provide an overview of Philippine Financial Reporting Standards (PFRS) 3, Business Combinations, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact reporting entities.

Clarifications on the removal of the 5-year validity period on receipts/invoices

31 Aug 2022

This Tax Alert is issued to inform all concerned of the clarifications on the removal of the 5-year validity period on all manual and system generated principal and supplementary invoices and receipts pursuant to Revenue Regulations No. 6-2022, in line with the “Ease of Doing business and Efficient Government Service Delivery Act of 2018”.

Lifting of suspension of field audit and other field operations

24 Aug 2022

This Tax Alert is issued to inform all concerned on the lifting of the suspension of the field audit and other field operations on all outstanding Letters of Authority/Audit Notices and Letter Notices per request of the Investigating Office.

Guidelines on the payment of penalties for IT-BPM RBEs violating the 70:30 WFH arrangement

24 Aug 2022

This Tax Alert is issued to inform all concerned on the manner of payment of penalties in relation to the suspension of income tax incentives granted to Registered Business Enterprises (RBEs) in the IT-BPM sector for violating the Work-From-Home (WFH) arrangement allowed by the Fiscal Incentives Review Board (FIRB).