Category: Tax Alert
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SEC Filing: When Does the Statement of Management’s Responsibility (SMR) Need to Be Notarized?
As companies begin preparing their 2025 financial statements for SEC filing, one common question arises: Does the Statement of Management’s Responsibility (SMR) now need to be notarized? Recent updates from the Securities and Exchange Commission (SEC) have created some confusion. The answer is simple once you understand the rule: Notarization depends on whether the financial…
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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…
Bong Corpuz & Co. CPAs 