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 […]
Can Cryptocurrencies be Subjected to Taxation?
Nowadays, Cryptocurrencies, such as Bitcoin, Ethereum, and Stablecoins like USDT, are gradually becoming well-known and not just speculative assets anymore in the Philippines, as they have been generating such economic value that even the government aims to regulate them, as the Securities and Exchange Commission have been taking steps to enforce administrative actions by blocking […]
Establishing Accountable AI: Governance Essentials for the Philippines
The Philippines has become one of the largest users of generative Artificial Intelligence(AI) models worldwide. Our country has placed sixth globally, with around 42.4% of Filipino internet users having used ChatGPT in September. As AI adoption accelerates, government attention has increasingly shifted toward the development of regulatory frameworks to address AI-related risks. Recent legislative initiatives […]
RMC No. 109-2025: Clarifications from the BIR Audit Suspension
Recently, the Bureau of Internal Revenue (BIR), in cooperation with the Department of Finance (DOF), announced a temporary suspension of the issuance of new Letters of Authority (LOA) and the execution of specific audit operations under RMC 107-2025. In our prior article, we discussed the background, rationale, and general implications. Now, the issuance of RMC […]
Vena Energy Secures Landmark Financing for 300-MW Solar Project in the Philippines
Vena Energy, a part of Singapore’s Vena Group’s renewable energy portfolio, has achieved a significant breakthrough in the Philippines’ transition to clean energy by securing the largest fully international-financed energy project. Namely, the Opus Solar Energy Project, a 300-megawatt (MW) stationary solar facility located in Ilocos Norte, has secured a landmark $210 million financing from […]
Finternet Technology: The New Financial Landscape Taking Shape
As digital finance gradually takes over, an idea is beginning to revolutionize the global commercial community: The Finternet Technology – a unified, interoperable “Financial Internet” designed to address the problems of modern financial systems, all in a seamless network. At the 2025 Singapore Fintech Festival, insights from the conference highlighted the Finternet vision as the […]
President of the Philippines Extends Tax Relief to Power Plants
On December 3, 2025, through Executive Order 106, President Ferdinand Marcos Jr. once again extended the tax relief to Independent Power Producers (IPPs) operating under Build-Operate-Transfer (BOT) agreements with the government-owned or controlled corporations. This step by the President was deemed a continuation of the policy reinstituted earlier in the year under Executive Order 83, […]
Understanding Auditing in the Electric Vehicle Industry
The Electric Vehicle (EV) industry is no longer a “futuristic” ideal, rather, it is the current trend. A fast-evolving ecosystem driven by advanced technology, aiming for sustainability and even to accumulate data. As EV adoption increases globally, a critical yet often overlooked function is stepping into place: Auditing. From battery supply chains to carbon credits, […]
Digital Identity & E-Signatures: Regulatory Frameworks & Issuances
In our prior discussion, we explored how Digital Identity Systems and Electronic Signatures are changing the way modern corporate governance operates in the Philippine context, with attendant benefits such as stronger authentication, reduced fraud risk, and optimized approvals and system integration. Building on that foundation, we will now shift to the regulatory frameworks that make […]
Digital Identity & E-Signatures: Moving Towards Paperless Corporate Governance
The pace of technological progress has accelerated, and companies are also shifting towards embracing digitalization. Digital Identity Systems and Electronic Signatures (e-signature) have arisen as vital tools for modern corporate governance. Across the globe, and increasingly in the Philippines, these innovations are redefining how boards of directors, corporators, and regulatory agencies authenticate documents, validate transactions, […]
BIR Temporarily Suspends Issuance of LOA and Audit Operations
Recently, the Bureau of Internal Revenue (BIR), along with the Department of Finance (DOF), ordered a temporary suspension regarding the issuance of Letters of Authority and the conduct of audit operations of the BIR, which is a move that immediately caught the attention of businesses, accountants, and tax professionals. The directive was announced jointly by […]
Understanding Your 13th Month Pay
The Christmas season is just around the corner, and Filipino employees now look forward to one of their most-awaited year-end benefits: the 13th-month pay. To many, it is known as a mandatory payout. Yet, some still misunderstand how it works, who is entitled, and how it should be computed. Let’s break down everything that needs […]
New Opportunity for Philippine Connectivity
The digitalization in the Philippines has been ongoing for transformation. Yet, the main problem lies in our internet connectivity, especially the part concerning the “speed” that Filipinos experience. Indeed, having a better internet connection is a good call, and the laws have been currently in favor of the same! With the recent approval and signing […]
Understanding the BIR Assessment (LOA, PAN, FAN-FLD)
For many business owners, nothing feels more worrisome than receiving a Letter of Authority from the Bureau of Internal Revenue (BIR). Indeed, technical terms like tax deficiency, assessments, and penalties arise, and the panic will ensue, even if businesses are compliant. But, here’s a myth we will debunk: A BIR Audit does not mean you […]
Global Non-Profit Sector Gets Its First Dedicated Accounting Standard
For the non-profit sector, a significant step was taken — the International Non-Profit Reporting Foundation (INPRF) has officially published the first-ever global accounting standard tailored explicitly for non-profit organizations, known as the International Non-Profit Accounting Standard (INPAS). The new standard was developed through years of collaborative effort, promising to reshape how charitable institutions, NGOs, and […]
SEC Pushes for More Transparency in Beneficial Ownership
The Securities and Exchange Commission (SEC) is moving toward much better corporate transparency with the proposed “Revised Guidelines on Beneficial Ownership Disclosure and Transparency,” issued on October 10, 2025. A Better Corporate Accountability The drafted guideline aims to reinforce and strengthen the disclosure process for those individuals who own, benefit from, or control such corporations […]
Near-the-Future Money: CBDC in the Philippines
Digitalization has been popular nowadays, with cashless payment options such as GCash and Maya. Likewise, the Philippines’ journey to transform the peso into a digital currency is at a crucial stage. The Bangko Sentral ng Pilipinas (BSP) has announced that banks and financial institutions will implement a wholesale CBDC, dubbed Project Agila, within the next […]