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BSP Circular 1110 Rationalization of Prudential Reporting Requirements

05 Mar 2021

This Accounting Alert is issued to circulate Bangko Sentral ng Pilipinas (BSP) Circular 1110 (the Circular) dated February 24, 2021.

Simplified guidelines and procedures on the use of CAS/CBA and its components

02 Mar 2021

This Tax Alert is issued to inform all concerned on simplified guidelines and procedures on the use of Computerized Accounting System (CAS), Computerized Books of Accounts (CBA), and/or its components, including Electronic Storage System (ESS), middleware and other similar systems, in relation the provisions of Revenue Memorandum Circular No. 5-2021.

COVID-19 Hedge Accounting Insights

02 Mar 2021

This Accounting Alert is issued to provide insights on accounting considerations on hedge accounting and highly probable cash flows, as affected by the COVID-19 pandemic.

Reportorial requirements on the exemption from DST for qualified loans pursuant to Bayanihan to Recover as One Act (RA 11494)

02 Mar 2021

This Tax Alert is issued to inform all concerned taxpayers on the prescribed reportorial requirements to be submitted by covered institutions’ DST exemption of loan term extensions and credit restructuring pursuant to relief for loans falling due on or before December 31, 2020 under Bayanihan to Recover as One Act (Republic Act No. 11494) or the Bayanihan II.

Financial Institutions Strategic Transfer (FIST) Act

26 Feb 2021

This Tax Alert is issued to inform all concerned on the relevant tax provisions of Financial Institutions Strategic Transfer (FIST) Act (Republic Act No. 11253).