J.P. Santos Tax and Accounting Services

19/05/2026

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

14/05/2026

📣 𝗦𝗘𝗖 𝘀𝘂𝘀𝗽𝗲𝗻𝗱𝘀 𝗺𝗼𝗻𝘁𝗵𝗹𝘆 𝗽𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 𝗳𝗼𝗿 𝗹𝗮𝘁𝗲, 𝗻𝗼𝗻-𝗳𝗶𝗹𝗶𝗻𝗴 𝗼𝗳 𝗿𝗲𝗽𝗼𝗿𝘁𝘀

The Securities and Exchange Commission (SEC) is suspending until December 31, 2026 the imposition of monthly penalties in the late or non-filing of reportorial requirements, as it seeks to reduce transaction costs and promote the ease of doing business.

In its meeting on May 5, the Commission En Banc approved the suspension of penalties imposed for every month of delay for the late or non-filing of reportorial requirements, as provided under SEC Memorandum Circular No. 6, Series of 2024 (MC 6).

“As we celebrate the Ease of Doing Business month this May, the SEC reaffirms its commitment to foster a robust and responsive business environment,” SEC Chairperson Francis Lim said.

“By suspending the compounding monthly penalties, we are providing corporations an opportunity to get back their good standing without the burden of mounting transaction costs, as part of our goal of pushing corporations toward full compliance and sustainable growth,” he added.

The suspension will apply to corporations with pending monitoring applications. Corporations that have received final assessments but have not yet settled payment will be issued updated assessments excluding the per month of delay components.

Read the full memorandum circular here: https://www.sec.gov.ph/mc-2026/sec-mc-no-16-series-of-2026suspension-of-the-per-month-of-delay-penalty-for-late-and-non-filing-of-reportorial-requirements-under-sec-memorandum-circular-no-6-series-of-2024/

Read the full press release here: https://www.sec.gov.ph/pr-2026/sec-suspends-monthly-penalties-for-late-non-filing-of-reports/

04/05/2026

15/04/2026

Extension of Filing Deadline of Audited Financial Statements

📣 𝗡𝗢𝗧𝗜𝗖𝗘: 𝗘𝘅𝘁𝗲𝗻𝘀𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗗𝗲𝗮𝗱𝗹𝗶𝗻𝗲 𝗳𝗼𝗿 𝗙𝗶𝗹𝗶𝗻𝗴 𝗼𝗳 𝟮𝟬𝟮𝟱 𝗔𝗻𝗻𝘂𝗮𝗹 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀 (𝗔𝗙𝗦)

The filing deadline for the 2025 Annual Financial Statements (AFS) and related reportorial requirements has been 𝗘𝗫𝗧𝗘𝗡𝗗𝗘𝗗. This follows the issuance of Revenue Memorandum Circular No. 30-2026 by the Bureau of Internal Revenue (BIR).

🗓️ Revised Deadlines:
• Annual Financial Statements of All Corporations: 𝗝𝘂𝗻𝗲 𝟭𝟱, 𝟮𝟬𝟮𝟲
• SEC Form 52-AR of Brokers & Dealers: 𝗠𝗮𝘆 𝟭𝟱, 𝟮𝟬𝟮𝟲
• Annual Reports (SEC Form 17-A) with AFS as attachment: 𝗠𝗮𝘆 𝟭𝟱, 𝟮𝟬𝟮𝟲

All corporations are reminded to ensure that submitted AFS are duly received by the BIR.

Read the full notice here: https://www.sec.gov.ph/notices-2026/extension-of-the-deadline-for-filing-of-2025-annual-financial-statements-afs/

14/04/2026

Tax Deadline Moved From April 15, 2026 to May 15, 2026

31/03/2026

11/03/2026

📣 𝗡𝗢𝗧𝗜𝗖𝗘: 𝗘𝗮𝗿𝗹𝘆 𝗖𝗼𝗻𝗱𝘂𝗰𝘁 𝗼𝗳 𝗔𝗻𝗻𝘂𝗮𝗹 𝗦𝘁𝗼𝗰𝗸𝗵𝗼𝗹𝗱𝗲𝗿𝘀’ 𝗠𝗲𝗲𝘁𝗶𝗻𝗴𝘀 (𝗔𝗦𝗠)

The Securities and Exchange Commission (SEC), through the Markets and Securities Regulation Department (MSRD), has issued guidelines on the early conduct of Annual Stockholders’ Meetings (ASM).

Companies intending to hold their ASM earlier than the date specified in their bylaws must ensure that the early conduct is supported by a justifiable reason, approved by the Board of Directors, and properly disclosed to the SEC.

Read the full notice here: https://www.sec.gov.ph/notices-2026/notice-on-the-early-conduct-of-annual-stockholders-meetings/

11/03/2026

📣 𝗡𝗢𝗧𝗜𝗖𝗘: 𝗧𝗲𝗺𝗽𝗼𝗿𝗮𝗿𝘆 𝗨𝘀𝗲 𝗼𝗳 𝟮𝟬𝟮𝟬 𝗙𝗼𝗿𝗺 𝗳𝗼𝗿 𝗨𝗿𝗴𝗲𝗻𝘁 𝗙𝗶𝗹𝗶𝗻𝗴 𝗼𝗳 𝗚𝗲𝗻𝗲𝗿𝗮𝗹 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗦𝗵𝗲𝗲𝘁 𝗼𝗻 𝗲𝗙𝗔𝗦𝗧

The Securities and Exchange Commission (SEC) temporarily allows corporations that are still setting up or restoring access to their eSECURE accounts to submit their General Information Sheet (GIS) through eFAST using the 2020 version of the GIS Form.

This arrangement will be available until 15 April 2026. After this date, corporations will be required to use the 2026 GIS Form, which integrates the submission of beneficial ownership information through HARBOR.

📄 Download the form here: https://bit.ly/2020GISForms
🔗 Read the full notice here: https://www.sec.gov.ph/notices-2026/temporary-use-of-2020-form-for-urgent-filing-of-general-information-sheet-on-efast/

09/03/2026

SEC Hierarchical and Applicable Relations and Beneficial Ownership Registry (HARBOR)