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 […]
Taxation on Go-Bags: Are Emergency Kits Subject to Levies?
Preparedness Meets Compliance With the recent events the Philippines has faced — floods, frequent earthquakes, and volcanic eruptions, it underscores the importance of being prepared for such disasters. Hence, “Go-bags” are highly encouraged for households, survival kits containing food, water, supplies, and other essentials in case of an emergency. Yet, beyond the importance of preparedness, […]
AI and the Data Privacy Act: A Gap in Confidentiality
Recently, when OpenAI CEO Sam Altman emphasized that conversations with ChatGPT might need to be “produced” and easily given if authorities demanded it, a renewed discussion was started on one of today’s most pressing problems: how confidential are our interactions with AI systems? Altman’s discussion highlights a reality often underestimated by everyday users and even […]