Category: My Business
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SEC MC No. 4, Series of 2026: New Audit Rules That Benefit Small Corporations
The Securities and Exchange Commission has issued Memorandum Circular (MC) No. 4, Series of 2026, introducing updated audit requirements designed to ease compliance costs for smaller corporations while maintaining accountability and transparency. This new circular significantly raises the audit threshold, allowing more corporations to file unaudited financial statements, provided certain conditions are met. Below is
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BIR RMC No. 4-2026: Mandatory BIR ORUS Registration Explained
Keeping your books of accounts compliant with the Bureau of Internal Revenue (BIR) is not just a formality, it is a legal requirement that protects your business from penalties and unnecessary audits. To address ongoing concerns and technical issues related to the Online Registration and Update System (ORUS), the BIR issued Revenue Memorandum Circular (RMC)
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Employee Benefits Just Changed: What RR No. 29-2025 Means for Employers
The Bureau of Internal Revenue (BIR) has issued Revenue Regulations (RR) No. 29-2025, further amending the rules on de minimis benefits. This update increases the ceilings for certain non-taxable employee benefits, giving employers more flexibility to provide allowances and perks without triggering income tax or fringe benefit tax, when properly structured. Below is a practical
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BIR Launches the 2026 Interactive Tax Calendar
What Businesses Need to Know (RMC No. 110-2025) The Bureau of Internal Revenue (BIR) continues its push toward digitalization with the release of Revenue Memorandum Circular (RMC) No. 110-2025, announcing the availability of the 2026 BIR Interactive Tax Calendar on the official BIR website RMC No. 110-2025. This initiative is designed to help taxpayers stay
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Zero-Rated or Taxable? How BIR RR 10-2025 Changes the VAT Game
For many businesses, VAT zero-rating and VAT refunds have long felt like a promise. If you deal with foreign clients, exports, or PEZA-registered entities, you may have assumed that zero-rating naturally applies. RR No. 10-2025 makes one thing clear:That assumption is no longer enough. The Bureau of Internal Revenue (BIR) is now enforcing VAT zero-rating
Bong Corpuz & Co. CPAs 