ASBalili and Co., CPAs

26/05/2026

The Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) No. 53-2026 which announces the pilot launch of the new online Taxpayer Portal, starting with taxpayers registered under the Large Taxpayers Service (LTS).

The Taxpayer Portal is a secure digital platform offering a single-view online dashboard for your tax information, significantly reducing the need for manual follow-ups and in-person trips to BIR offices.

Key features available for the pilot run are as follows:
• Viewing of taxpayer registration information
• Monitoring of status of filed tax returns per Tax Type or Form Type
• Tracking of tax payments
• Viewing of Account Ledger per Tax Type or Form Type
• Receiving of system-generated notifications and tax reminders

This pilot run for LTS taxpayers is designed to ensure the system is fully operational before a gradual rollout to other types of taxpayers.

Source: BIR website

18/05/2026

𝗣𝗨𝗕𝗟𝗜𝗖 𝗔𝗗𝗩𝗜𝗦𝗢𝗥𝗬 : 𝗕𝗜𝗥 𝗘𝗫𝗧𝗘𝗡𝗗𝗦 𝗗𝗘𝗔𝗗𝗟𝗜𝗡𝗘 𝗙𝗢𝗥 𝗘𝗔𝗙𝗦 𝗦𝗨𝗕𝗠𝗜𝗦𝗦𝗜𝗢𝗡𝗦 𝗨𝗡𝗧𝗜𝗟 𝗠𝗔𝗬 𝟮𝟱

The Bureau of Internal Revenue (BIR) has announced that it is extending the deadline for the submission of the 2025 Audited Financial Statements (AFS) and other mandatory attachments through the Electronic Audited Financial Statements (eAFS) facility until May 25, 2026.

The extension was finalized through Revenue Memorandum Circular No. 46-2026 to provide administrative relief to taxpayers who encountered eAFS system-related technical issues during the recently concluded 2025 Annual Income Tax Return (AITR) filing season.

Under this issuance, penalties arising solely from delayed attachment submissions during this period are waived.

The extension until May 25, 2026, strictly applies to the following taxpayers:

1. Those who were unable to successfully upload their 2025 AFS and attachments through the eAFS platform on or before May 15, 2026, due to system-related issues; and

2. Those who utilized the contingency email submission route on or before May 15, 2026, but have not yet received an official email acknowledgment receipt from their concerned BIR office.

Taxpayers who submitted their attachments through the prescribed contingency email procedure on or before May 15, 2026, and have already received an email acknowledgment from their concerned BIR office, are considered fully compliant.

They are not required to resubmit via the eAFS facility, though they may still choose to do so voluntarily.

The BIR clarified that this extension applies only to the submission of the AFS and related attachments through the eAFS facility. It does not extend the statutory deadline for the filing and payment of the Annual Income Tax Return (AITR) itself.

The full copy of the guidelines can be accessed through this link:https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2046-2026.pdf

18/05/2026

The Bureau of Internal Revenue Philippines (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 46-2026, providing a deadline extension for the submission of 2025 Audited Financial Statements (AFS) and other attachments via the eAFS facility.

Taxpayers who were unable to submit by May 15 due to system errors, or those who used the contingency email but did not receive an acknowledgment, now have until May 25, 2026, to submit or re-submit their documents via eAFS without penalties.

Please be guided that this is strictly an extension for eAFS attachments, not the Annual Income Tax Return.

Source: BIR website

01/05/2026

30/04/2026

The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 39-2026 clarifying the deadline for the submission of the required attachments to the 2025 Annual Income Tax Returns.

This was issued to reiterate the provisions of RMC No. 30-2026 which stated that the payment of corresponding taxes due and submission of required attachments is extended until May 15, 2026 only.

Source: BIR website

29/04/2026

29/04/2026

The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular No. 036-2026 announcing the release of the updated Offline eBIRForms Package Version 7.9.6.0, downloadable at www.bir.gov.ph. Key updates include:

• New BIR Form 1701-MS (August 2024) for Micro and Small taxpayers — deadline extended to May 15, 2026 per RMC 30-2026
• New ATCs added in BIR Form 1601-EQ for income payments to manufacturers/importers of motor vehicles (WI840/WC840), medicine/pharma products (WI850/WC850), and solid/liquid fuels (WI860/WC860) — all at ½% withholding tax rate
• TIN Branch Code field expanded from 3 to 5 digits across all tax returns
• Foreign currency deposit tax rate updated from 15% to 20% in BIR Form 1602Qv2018
• Bug fixes for multiple forms including 0619E, 1601FQ, 1604F, and others

Source: BIR website

28/02/2026

ITR & FS Preparation for BIR, SEC & CDA

Office Located at Rudsor Bldg. Candelaria St., Ecoland, Davao City

Accounting, Auditing, Taxation & Business Advisory Services

18/02/2026

The Securities and Exchange Commission (SEC) has released Memorandum Circular (MC) No. 9, s. 2026, outlining the guidelines for the filing of Annual Financial Statements (AFS) and General Information Sheets (GIS). To ensure regulatory compliance and avoid penalties, corporations should take note of the following requirements:
• Submission Deadline for AFS: For corporations with a fiscal year ending on December 31, 2025, the deadline for filing AFS through the SEC Electronic Filing and Submission Tool (eFAST) is May 29, 2026.
• Mandatory Electronic Filing: All annual reportorial requirements must be submitted via the eFAST platform at https://efast.sec.gov.ph .The Commission will no longer accept submissions via email, mail, courier, or over-the-counter.
• General Information Sheet (GIS): Corporations must file their GIS within 30 calendar days from the date of their actual annual stockholders' or members' meeting. Foreign corporations must file within 30 days of the anniversary of their SEC license issuance.
• Fiscal Year Variations: Entities with fiscal years ending on dates other than December 31 must file their AFS within 120 calendar days from the end of their respective fiscal years.
• Audit Requirements: Stock and non-stock corporations with total assets or liabilities exceeding ₱3,000,000 are required to submit Annual Audited Financial Statements (AAFS).
• BIR Verification: AFS submissions (excluding consolidated statements) must be stamped "received" by the Bureau of Internal Revenue (BIR) or include the system-generated Transaction Reference Number from the BIR e-AFS system.
• eFAST Operations: The eFAST platform remains open 24/7; however, any submissions made on weekends, holidays, or during work suspensions will be considered filed on the next working day.
Failure to comply with these deadlines or the formal requirements set under Revised SRC Rule 68 may result in the imposition of penalties by the Commission.

Source: SEC website