Carasco, Paglinawan & Associates, CPAs

15/04/2026

ANNOUNCEMENT | DEADLINE EXTENDED with SEC

Carasco & Paglinawan Accounting would like to inform our valued clients and partners:

The Bureau of Internal Revenue (BIR) has extended the deadline for filing the 2025 Annual Income Tax Returns (AITR) and payment of corresponding taxes, including submission of required attachments, from April 15, 2026 to May 15, 2026.

✅ No surcharges or penalties will be imposed.
✅ Returns may be filed electronically or manually.
✅ Payments can be made through authorized banks or electronic platforms.

In line with this, the Securities and Exchange Commission (SEC) has also extended the deadlines for filing 2025 Annual Financial Statements (AFS) and related reportorial requirements:

AFS – June 15, 2026
SEC Form 52-AR (with AFS) – May 15, 2026
Annual Reports (SEC Form 17-A with AFS) – May 15, 2026

📌 Please ensure timely compliance and coordinate with us for assistance in preparing your reports

14/04/2026

📢 DEADLINE EXTENDED!

Taxpayers, take note! The Bureau of Internal Revenue (BIR) has officially extended the deadline for filing your 2025 Annual Income Tax Return (AITR) and paying the corresponding taxes.

🗓️ Old Deadline: April 15, 2026
➡️ New Deadline: May 15, 2026
This extension, issued under Revenue Memorandum Circular No. 030-2026, gives everyone more time to file and settle their taxes without surcharges or penalties — whether you file electronically or manually.

Let’s make the most of this extension and stay compliant!
✅ File early.
✅ Pay correctly.
✅ Submit all required attachments.

11/04/2026

Simplify your finances with Carasco & Paglinawan Accounting! From tax filing to audits, we’re your trusted partner in financial clarity and business growth.

📞 (0917) 113 7712 | (0920) 978 3800
✉️ [email protected]

04/04/2026

This Easter Sunday, we extend our heartfelt gratitude for the trust you place in us. May the season of renewal bring peace, joy, and prosperity to you and your loved ones.

From all of us at Carasco & Paglinawan Accounting, we wish you a blessed and meaningful Easter.

Happy Easter!

13/03/2026

Congratulations to Concepcion Holy Cross College for being recognized as the Top 1 Performing School in the Criminology Board Exam with an outstanding 100% passing rate!

Equally remarkable is Holy Cross College Santa Rosa, which also achieved a 100% passing rate.

Truly, these accomplishments are a testament to the dedication, excellence, and hard work of the students, faculty, and the entire community.

Outstanding. Remarkable. Inspiring. 💙✍️

Photo courtesy of HCC and CHCC.

22/01/2026

🔥✨ Tax Master is Officially LIVE! ✨🔥

The future of tax compliance monitoring and filing has arrived. With Tax Master, our vision of a fully digital platform is now reality—giving clients the power to view all documents, filed forms, checked and verified in one smart, seamless hub.

Anchored on our core values of CPA: Where Commitment Meets Innovation, our team is proud to deliver honest, transparent, and client‑centric service that redefines the accounting experience.

We are Carasco Paglinawan Accounting.
💡 Serving our clients in the smartest way possible.

31/12/2025

🎉✨Cheers to 2026! From all of us at Carasco Paglinawan Accounting, may your year be filled with laughter, good vibes, and fresh opportunities. Thank you for being part of our story—let’s make this year brighter together!✨🎉

29/12/2025

Today, we honor the life and sacrifice of Dr. Jose Rizal, whose courage and vision awakened the Filipino spirit.

His words remind us that true freedom begins with education, integrity, and love for our country. May we continue his legacy of hope and service.

Mabuhay ang Pilipinas.

24/12/2025

🎄❤️From our family at Carasco Paglinawan Accounting to yours, we wish you a Merry Christmas filled with love, laughter, and cherished moments.

May the spirit of the season bring peace to your homes, joy to your hearts, and blessings to your families.

Thank you for being part of our journey—together, we celebrate not just success, but the gift of community and togetherness.❤️🎄

23/12/2025

Transition Reliefs for Sustainability Reporting

📌 SEC Update: SEC Memorandum Circular (MC) No. 16, series of 2025

Adoption of Philippine Financial Reporting Standards (PFRS) on Sustainability Disclosures and Issuance of Reporting Guidelines for Publicly Listed Companies and Large Non-Listed Entities

To support a smoother shift to climate-related disclosures, the following transition reliefs are now available:

Climate-first reporting: Focus solely on climate risks (IFRS S2) — 1 year for Tiers 1 & 2, 2 years for Tier 3

Flexible timing: Submit sustainability reports after financial statements — up to 9 months

Comparative data not required: No need to disclose prior year info for 1 year

Alternative GHG methods allowed: Continue using non-GHG Protocol approaches for 1 year

Scope 3 emissions optional: Disclosure not mandatory for 2 years

These reliefs enable organizations to build capacity while aligning with global standards. A thoughtful step forward for ESG compliance.

23/12/2025

BIR Raises Non-Taxable Limits for “De Minimis” Benefits – Revenue Regulations No. 029-2025 Now in Effect 🇵🇭

The Bureau of Internal Revenue has issued RR No. 029-2025, amending RR No. 2-98 to increase the ceilings for non-taxable “De Minimis” benefits. This update supports employee welfare while streamlining compliance for employers and government agencies.

🔍 Key Non-Taxable Benefits (Effective 15 Days After Publication):

Rice subsidy: Up to ₱2,500/month or one 50kg sack
Medical assistance: Up to ₱12,000/year
Uniform/clothing allowance: Up to ₱8,000/year
Laundry allowance: Up to ₱400/month
Medical cash allowance for dependents: ₱2,000/semester
Achievement awards: Up to ₱12,000/year (under a non-discriminatory written plan)
Holiday/anniversary gifts: Up to ₱6,000/year
Meal allowance for OT/night shift: Up to 30% of regional minimum wage
CBA + productivity incentives: Combined ceiling of ₱12,000/year

These benefits are now exempt from income tax and fringe benefit tax, aligning with Section 33 of the Tax Code of 1997.

This is a timely update for HR teams, payroll officers, LGUs, TESDA partners, and those involved in reintegration and workforce development. Ensure your policies and systems reflect these changes as we enter 2026.

🔗 Full regulations available at www.bir.gov.ph

23/12/2025

SEC Issues Revised Rules on Beneficial Ownership Disclosure

The Securities and Exchange Commission (SEC) has released Memorandum Circular No. 15, Series of 2025, revising the Beneficial Ownership (BO) Disclosure Rules to strengthen corporate transparency, accountability, and good governance.

Key highlights:
Improved accuracy and accessibility of BO information
Measures to prevent misuse of corporate structures and financial crimes
Alignment with international standards
Enhanced inter-agency cooperation

📌 Reporting entities are urged to review the new requirements and ensure timely compliance.
For inquiries, email [email protected]

🔗 Full Circular: SEC MC No. 15, Series of 2025

📃 𝗦𝗘𝗖 𝗶𝘀𝘀𝘂𝗲𝘀 𝗿𝗲𝘃𝗶𝘀𝗲𝗱 𝗿𝘂𝗹𝗲𝘀 𝗳𝗼𝗿 𝗯𝗲𝗻𝗲𝗳𝗶𝗰𝗶𝗮𝗹 𝗼𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝗱𝗲𝗰𝗹𝗮𝗿𝗮𝘁𝗶𝗼𝗻

The Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 15, Series of 2025 or the Beneficial Ownership Disclosure Rules of 2026 to strengthen corporate transparency, accountability, and good governance.

The revised rules enhance the accuracy and accessibility of beneficial ownership information, supporting efforts to prevent the misuse of corporate structures and combat financial crimes. They also align Philippine regulations with international standards and promote effective inter-agency cooperation.

Reporting entities are encouraged to familiarize themselves with the new requirements and ensure timely compliance.

For inquiries and further clarification, please send an email to [email protected]

🔗 Read the full Memorandum Circular here: https://www.sec.gov.ph/mc-2025/sec-mc-no-15-series-of-2025revised-beneficial-ownership-disclosure-rules/