BIR PRESCRIBES THE POLICIES AND GUIDELINES ON THE REGISTRATION OF BOOKS OF ACCOUNTS RMC No. 03-2023 All books of accounts shall be registered online with the Bureau’s Online Registration and Update System (ORUS). Instead of manual stamping of books of accounts, a Quick Response (QR) Code shall be generated, which
SEC 2023 SCHEDULE FOR FILING OF THE AUDITED FINANCIAL STATEMENTS AND GENERAL INFORMATION SHEET The SEC has set the deadlines for the filing and submission of the 2022 audited financial statements (AFS) and general information sheet (GIS) of corporations through the Electronic Filing and Submission Tool (eFAST). Annual Financial
Voluntary Dissolution where no Creditors are Affected (Sec. 134) Initiated by filing a verified request with the Company Registration and Monitoring Department (“CRMD”) or SEC Extension Office, signed by the corporation’s duly authorized representative, stating: Corporate Name, SEC Registration Number, Principal Office and Email Address; Complete Name, Designation and Mailing
DISQUALIFICATION OF DIRECTORS, TRUSTEES AND OFFICERS OF CORPORATIONS; AND THE GUIDELINES ON THE PROCEDURE FOR THEIR REMOVAL. (SEC Memorandum Circular No. 04 s. 2022) Under Section 26 of Republic Act No. 11232, or the Revised Corporation Code of the Philippines (“RCC”), a person shall be disqualified from being a director,
SECURITIES AND EXCHANGE COMMISSION THE SEC EXTENDS THE DEADLINE TO SUBMIT MANDATORY DECLARATIONS UNDER BENEFICIAL OWNERSHIP GUIDELINES TO JULY 31, 2021 (SEC Notice, May 28, 2021) BUREAU OF INTERNAL REVENUE QUARTERLY RETURNS TO BE USED TO REFLECT NEW RATES UNDER CREATE LAW The BIR prescribes the
THE SEC EXTENDS THE DEADLINE TO SUBMIT FORMS/NOTICES ON CREATION/DESIGNATION OF E-MAIL ACCOUNT ADDRESSES AND MOBILE PHONE NUMBERS FOR TRANSACTIONS WITH THE COMMISSION UNTIL JUNE 30, 2021 The forms/notices of the MC 28, s. 2020 online through email platform MC28_S2020@sec.gov.ph. Filing of the forms/notices beyond June 30, 2021 shall be
The SEC prescribes guidelines in Preventing the Misuse of Corporations for Illicit Activities through Measures Designed to Promote Transparency of Beneficial Ownership. The SEC provides among others: Issuance, sale or offer of bearer shares and bearer share warrants are prohibited. Sale/transfer of shares of stock shall be disclosed and recorded
The online submission (via MC28_S2020@sec.gov.ph) of the forms/notices must be done on or before the above-mentioned deadline, while the filing of the hard copies of the said forms/notices shall be optional. Filing of hard copies may be done via submission/appointment to ICTD-ERMD Receiving Unit. For your easy reference, the Circular may
The SEC provides financial reporting relief for FCs, LCs, and accredited MG-NGOs. It allows a staggered booking of provision for credit losses for annual period ending on or after December 31, 2020 (to consider those with fiscal year-end) for a maximum period of five (5) years using straight-line amortization method
The SEC revises the General Information Sheet (GIS) of foreign corporations to include beneficial ownership information. All SEC registered foreign corporations are required to disclose their beneficial owners in the GIS. The resident agent, country or regional/area head of the foreign corporation shall exercise the due diligence required in obtaining,
