August 2020 - Philippine Accounting Updates

Trade online and earn more during COVID-19

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

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…

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 Caballero | 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…

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

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

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…

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Philippine Accounting Updates

Your reliable source of accounting, tax and related updates

Month: August 2020

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)