For those interested in learning more about the Philippine business environment and economic profile, our blog area contains articles on finance, foreign investments, industry updates, entrepreneurship, and other business subjects.
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The latest of BIR-related articles and headlines that are of significance to the business world are presented at your convinience and regularly updated.
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11 September, 2023
The Internal Revenue Service plans to leverage artificial intelligence to identify patterns of noncompliance in large partnerships, while also ramping up its examinations of high-income taxpayers and big corporations. But the agency will need to tread carefully with how it uses AI amid growing questions about the reliability of the technology.
30 August, 2023
E-wallet giant GCash will start charging a convenience fee of P5 for every time a user cashes in from its major partners Bank of the Philippine Islands (BPI) and Union Bank of the Philippines in the fourth quarter.
In an interview with reporters, GCash president and CEO Martha Sazon said the convenience fee remains to be one of the lowest compared to the transaction charges imposed by traditional banks that run as high as P25.
31 August, 2023
he Securities and Exchange Commission (SEC) will soon issue new guidelines that will impose higher penalties on companies for non-compliance with reportorial requirements.These proposed fines and penalties are around 90 percent higher than the existing scale, the SEC said.
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This section will provide accurate and consistent information on policies and recommendations on issues concerning the securities market for it will garner confidence and assurance for people to continue doing business with no worries.
13 September, 2023
The Commission on Appointments (CA) has authorized the designation of former Court of Tax Appeals (CTA) Associate Justice Erlinda Piñera Uy as a member of the Judicial and Bar Council (JBC). No CA member objected to Uy’s appointment during Wednesday’s deliberation on her nomination.
11 September, 2023
DThe Securities and Exchange Commission (SEC) will jack up the penalties for delinquent reportorial compliance by as high as 1,900 percent.
The corporate regulator has ordered companies to comply with their reportorial requirements on time. Otherwise, they will be slapped with higher penalties for late and non-filing of the General Information Sheet (GIS) and Annual Financial Statement (AFS).
08 September, 2023
The Securities and Exchange Commission's recently finalized rule on private fund advisors will impose new disclosure and audit requirements on private equity firms, hedge funds and venture capital firms, even if they've already been providing some of this information.
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