Philippine Accounting Updates

Trade online and earn more during COVID-19

To start, this is an investment/trading strategy that is high risk but high return. As COVID-19 continues to spread, a lot of workers are now working from home, working on reduced work days or laid-off. You are lucky if you still have a job. That is why alternative source of income is very important, like…

Remember to file General Form Financial Statements (GFFS)

Posted on August 3, 2020 by Joanna C. | 0 Comments

Congratulations for successfully filing your 2019 audited financial statements! But you might be missing another report for filing with Securities and Exchange Commission (SEC) – the General Form Financial Statements (GFFS) and Special Form Financial Statements (SFFS) for entities falling under specific industry/category. In this article, we’ll focus on GFFS as it’s common for stock…

Clarifications on filing of BIR Form No. 1709 or Related Party Transaction form

The Bureau of Internal Revenue recently issued Revenue Regulations (RR) No. 19-2020 introducing BIR Form No. 1709, replacing form no. 1702H series of 1992. BIR Form No. 1709 is also called Related Party Transaction (RPT) form. Various issues and questions arose from different parties related to the issuance of the RR, prompting the BIR to…

VAT on Digital Services (Netflix, Spotify, Lazada) in PH? Agree?

Posted on July 29, 2020 by Joanna C. | 0 Comments

The government may be in dire need of revenue source as the pandemic goes on and billions of borrowing have been or are being spent to recover. While the government commits to pass a tax reform that will help the country and the economy recover, through the Corporate Recovery and Tax Incentives for Enterprises Act…

Online Businesses should Register and Comply with their Tax Obligations

Posted on July 29, 2020 by Joanna C. | 0 Comments

As we suffer an international health crisis brought about by the COVID-19 pandemic, many businesses and companies were forced to put a halt in their operations and to lay off many of their workforces. For many, they can’t rely on the support coming from the government alone. Due to this event, many Filipinos were forced…

How to apply as a Barangay Micro Business Enterprise (BMBE)?

Posted on September 1, 2020 by Orlando Calundan | 2 Comments

Small businesses often earn relatively small – just enough to support owner/s’ day to day expenses, employees’ salaries and small profit. So if business owners still have to pay taxes, they might not be able to sustain operation, considering the…

Trade online and earn more during COVID-19

Posted on August 9, 2020 by Orlando Calundan | 0 Comments

Payment of taxes during MECQ – RMC No. 79-2020

Posted on August 8, 2020 by Orlando Calundan | 0 Comments

The country is again put under Modified Enhanced Community Quarantine (MECQ) for 15 days, from August 4 to 18, 2020. The areas affected are Metro Manila, Bulacan, Rizal, Cavite, and Laguna. With MECQ, some industries are allowed to operate at…

Remember to file General Form Financial Statements (GFFS)

Posted on August 3, 2020 by Joanna C. | 0 Comments

Clarifications on filing of BIR Form No. 1709 or Related Party Transaction form

Posted on August 2, 2020 by Orlando Calundan | 0 Comments

VAT on Digital Services (Netflix, Spotify, Lazada) in PH? Agree?

Posted on July 29, 2020 by Joanna C. | 0 Comments

Online Businesses should Register and Comply with their Tax Obligations

Posted on July 29, 2020 by Joanna C. | 0 Comments

Online transactions and withholding tax in the “new normal”

Posted on July 28, 2020 by Orlando Calundan | 0 Comments

The Coronavirus pandemic (more commonly known as COVID-19) has changed so much about the way we live, the things we used to do, the places we used to go, the friends, and even transactions we used to enter, and the…

October 2020 CPA Board Exam Updates

Posted on July 26, 2020 by Joanna C. | 0 Comments

The Certified Public Accountants’ Licensure Exam (CPALE) in the Philippines scheduled last May 10, 17, and 18 was postponed and rescheduled this coming October 11, 12, and 18 due to the Coronavirus pandemic (COVID-19). There are, however, important updates regarding…

October 2019 CPA Board Exam Results (Passers / Topnotchers)

Posted on October 21, 2019 by Orlando Calundan | 0 Comments

October 2019 Exam Results October 2019 Certified Public Accountant Licensure examination results released in six (6) working days The Professional Regulation Commission (PRC) announces that 2,075 out of 14,492 passed the Certified Public Accountant Licensure Examination given by the Board of Accountancy in the cities of Manila, Baguio, Cagayan De…

CRYPTO: Taxation on crypto-assets

Posted on September 8, 2019 by Arlan V. | 0 Comments

Previously: Accounting for non-monetary asset? and Valuation of crypto (in the context of IFRS 13). Levies on Crypto Outside PH Tax Authority Tax law and crypto have one thing in common. According to a leading crypto digital thinktank, Crypto Research…

Updated General Information Sheet (GIS) 2019

Posted on August 6, 2019 by Orlando Calundan | 0 Comments

The Philippine Securities and Exchange Commission (SEC) has issued SEC Memorandum Circular No. 15, Series of 2019, on the amendments to SEC Memorandum Circular No. 17, Series of 2018 on the revision of the General Information Sheet (GIS) to include…

Philippine Accounting Updates

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Featured Posts

Trade online and earn more during COVID-19

Remember to file General Form Financial Statements (GFFS)

VAT on Digital Services (Netflix, Spotify, Lazada) in PH? Agree?

Online Businesses should Register and Comply with their Tax Obligations

Latest Posts

How to apply as a Barangay Micro Business Enterprise (BMBE)?

Trade online and earn more during COVID-19

Payment of taxes during MECQ – RMC No. 79-2020

Remember to file General Form Financial Statements (GFFS)

VAT on Digital Services (Netflix, Spotify, Lazada) in PH? Agree?

Online Businesses should Register and Comply with their Tax Obligations

Online transactions and withholding tax in the “new normal”

October 2020 CPA Board Exam Updates

October 2019 CPA Board Exam Results (Passers / Topnotchers)

CRYPTO: Taxation on crypto-assets

Updated General Information Sheet (GIS) 2019