New International Standard Requires Climate-Related Disclosures from Public-Sector Entities
The International Public Sector Accounting Standards Board (IPSASB) recently released Sustainability Reporting Standards 1, known as Climate-related Disclosures, to provide governments and public sector entities with guidance on how to report and disclose climate-related risks and opportunities. What Is IPSASB Sustainability Reporting Standard 1 (SRS 1)? The IPSASB SRS 1 standard recognizes that climate change […]
The BIR Audit Reset Starts Now: Key Changes and Reforms
Tax Audits Are Back, But the Rules Have Changed In November 2025, the Bureau of Internal Revenue (BIR) suspended the issuance of Letters of Authority (LOA) due to concerns among taxpayers about their integrity, timeliness, and proper enforcement. After 2 months of suspension, the BIR has officially resumed tax audits nationwide, but this is not […]
New Reservoir Seen to Usher Developments for Natural Gas Industry in the Philippines
The Department of Energy Philippines reported the discovery of an estimated 98 billion cubic feet of gas in place, equivalent to about 142 Gigawatt hours of electricity at Malampaya East 1 (MAE-1). The MAE-1 discovery provides additional reserve capacity for power plants that depend on Malampaya. As a domestic energy source, it helps stabilize prices […]
Why Are Internal Controls Important for SMEs
“We’re Just a Small Business – Do We Really Need Internal Controls?” Picture this: Your trusted bookkeeper, who has been with your company for the past few years, has been internally siphoning funds through fake vendor transactions, or imagine you discovered that simple recording errors have compounded for more than a year, eventually leading to […]
How the SEC’s 2026 REIT Rules Can Help Businesses Unlock Capital
A Flexible, Greater REIT Market is Finally Here On January 6, 2026, the Securities and Exchange Commission (SEC) recently released amendments to the Real Estate Investment Trust (REIT) rules, making it a potential game-changer for businesses in the Philippines to unlock better capital, diversify their assets, and expand faster. With broader eligible assets, better rules […]
How to Minimize Taxes Legally: What Philippine Businesses Must Know
Every business owners want to reduce taxes, why? — primarily because taxes affect the cash flow, plans, and sustainability of operations. In the Philippines, there is a critical distinction between tax planning, tax avoidance, and tax evasion. Understanding these concepts can protect a business from penalties, tax disputes, and other risks while enabling it to […]
Payment to CARS Investors not Prioritized in FY 2026 PH Budget
When President Ferdinand Marcos Jr. signed the 2026 General Appropriations Act (Fiscal Budget), he vetoed more than ₱92.5 billion in unprogrammed appropriations — funds that may be released only when specific conditions are met, such as excess revenues, new revenue sources, or additional borrowings beyond original projections. What Was Included in the Veto While the […]
The True Cost of Non-Compliance: Why Penalties Are More Expensive Than Professional Fees
Some business owners believe that delaying accounting or compliance support saves money. Monthly retainers, consultation fees, and audit costs can feel like avoidable expenses, especially for start-ups and growing Small and Medium Enterprises (SMEs) managing tight cash flow. However, this stance often creates a dangerous blind spot. In reality, non-compliance leads businesses to incur compounding […]
SEC’s New Beneficial Ownership Rules Take Effect in 2026
Following the previous push for stronger transparency, the Securities and Exchange Commission has officially released a memorandum for Beneficial Ownership (BO) Rules effective on January 1, 2026. With the issuance of SEC Memorandum Circular No. 15, series of 2025, the Commission has critically made a shift as to how entities should identify, report, and maintain […]
2025 Year-End Tax Compliance Checklist for Philippine Businesses
As year-end approaches, Philippine taxpayers must prepare for the upcoming series of mandatory filings and compliance requirements due within the first month of the upcoming year. These submissions are required by the Bureau of Internal Revenue (BIR) and Local Government Units (LGUs). To help businesses, employers, and professionals stay on track — here is a […]