BABYLON2K CHRONICLES
Audit Trails and Financial Tales
Welcome to a realm where numbers come to life, and financial tales weave a narrative that goes beyond the balance sheets, unlocking the secrets of Babylon2k’s financial universe.
How To Apply for a Pag Ibig Multi-Purpose Loan Online (MPL)
Applying for a Pag-IBIG Multi-Purpose Loan (MPL) has never been easier! Gone are the days of standing in long queues and navigating through piles of paperwork. Today, all you have to do is complete all the requirements and apply directly on Pag-IBIG’s official website. This streamlined online process allows you
Final Withholding Tax Updates for Prime Peso and USD Deposits Under CMEPA (RA 12214)
Starting July 1, 2025, the rules on final withholding tax (FWT) for interest earned on both short- and long-term deposits are changing in the Philippines. This is due to the implementation of Republic Act No. 12214, or the Capital Markets Efficiency Promotion Act (CMEPA)—a new law aimed at simplifying the
New Philippine Check Writing Standards Take Effect July 2025
Starting July 1, 2025, banks in the Philippines will no longer accept checks that do not follow the updated format mandated by the Philippine Clearing House Corporation (PCHC). The updated design, introduced in May 2024, aims to reduce fraud and streamline check clearing through standardized formatting. While a transition period
PEZA Incentives Under CREATE MORE: What Tax Professionals Need to Know
On June 25, 2025, the Tax Management Association of the Philippines (TMAP) held its June Tax Seminar at the Makati Diamond Residences, drawing in a full house of tax professionals, business leaders, and legal experts for an insightful afternoon focused on pressing tax and investment topics. One of the most
Capital Markets Just Got a Tax Makeover: What You Need to Know About RA 12214 (CMEPA)
Effective July 1, 2025, the Capital Markets Efficiency Promotion Act (CMEPA)—officially Republic Act No. 12214—goes live. And for the financial sector, that’s not just a footnote in tax law. It’s a game-changing shift in how capital income is taxed and how investments are encouraged in the Philippines. Passed to sharpen
Digital Transformation in the Philippines: The Rise of Cashless Payments
The Bangko Sentral ng Pilipinas just released its 2024 “Status of Digital Payments” report—and it’s a game‑changer. Digital transactions now make up 57.4 % of all retail payment volume, rising from 52.8 % in 2023. On the value side, e‑money claims 59 %, up from 55.3 % last year—surpassing the Philippine Development Plan’s target range
Internet Transactions Act Now Live — What You Need to Know
What’s New? Republic Act 11967—also known as the Internet Transactions Act (ITA)—has officially entered full effect as of June 20, 2025, concluding its 18‑month compliance lead time. This law empowers the Department of Trade and Industry (DTI) to: Why It Matters New Powers for Government & Platforms Private Sector Cheers Major