Carasco, Paglinawan & Associates, CPAs

05/08/2026

𝗕𝗜𝗥 𝗘𝗫𝗣𝗔𝗡𝗗𝗦 𝗟𝗜𝗦𝗧 𝗢𝗙 𝗩𝗔𝗧-𝗘𝗫𝗘𝗠𝗣𝗧 𝗠𝗘𝗗𝗜𝗖𝗜𝗡𝗘𝗦 𝗧𝗢 𝗘𝗔𝗦𝗘 𝗛𝗘𝗔𝗟𝗧𝗛𝗖𝗔𝗥𝗘 𝗖𝗢𝗦𝗧𝗦 𝗙𝗢𝗥 𝗙𝗜𝗟𝗜𝗣𝗜𝗡𝗢𝗦

As part of the government’s continuing efforts to make healthcare more accessible and affordable, the Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 87-2026, publishing the updated list of Value-Added Tax (VAT)-exempt medicines endorsed by the Food and Drug Administration (FDA) pursuant to Republic Act No. 10963 (TRAIN Law) and Republic Act No. 11534 (CREATE Act).

The issuance supports President Ferdinand R. Marcos Jr.’s directive during his 2026 State of the Nation Address (SONA) to expand access to quality healthcare by reducing the cost of essential medicines.

BIR Commissioner Charlito Martin R. Mendoza emphasized the Bureau’s commitment to implementing tax policies that directly improve the lives of Filipinos.

“The Bureau remains steadfast in implementing tax policies that directly benefit our people. By expanding the list of VAT-exempt medicines, we are helping make essential healthcare more affordable while supporting the President’s vision of a healthier and more resilient Philippines,” Commissioner Mendoza said.

With the latest update, the number of VAT-exempt medicines has increased to 2,277, including 14 newly added medicines. The expanded coverage helps reduce out-of-pocket medical expenses, particularly for Filipinos undergoing long-term treatment for chronic and life-threatening illnesses.

The updated list now covers medicines used in the treatment of:

* Cancer – 708 medicines

* Hypertension – 537 medicines

* Diabetes – 331 medicines

* Mental Illness – 300 medicines

* High Cholesterol – 172 medicines

* Kidney Disease – 152 medicines

* Tuberculosis – 77 medicines

Every peso saved through the VAT exemption helps families continue treatment, purchase essential medicines, and better manage their daily needs.

By making healthcare more affordable, the government also supports better treatment outcomes and improves the quality of life of millions of Filipinos.

While the Bureau continues to fulfill its mandate of generating revenues for national development, it likewise ensures that the tax system delivers meaningful and tangible benefits to the Filipino people.

For more information, you may access:

Revenue Memorandum Circular No. 87-2026
https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2087-2026_redacted.pdf

Updated Full List of VAT-Exempt Medicines (Annex A)
https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%2087-2026%20Annex%20A%20(6).pdf

28/07/2026

OUR CLIENTS, OUR PRIORITY!

At Carasco & Paglinawan Accounting, we go beyond numbers — we build trust, clarity, and growth for every client.

💼 Our Services:
✅ Accounting & Bookkeeping
✅ Tax Filing & Compliance
✅ Internal Audit
✅ Financial Statements Audit
✅ Business Registration Assistance
✅ Real Property & Land Titling

Dedicated to your success every step of the way!
📞 0917‑113‑7712 | 0920‑978‑3800
📧 [email protected]

11/07/2026

📢 Good news, Nueva Ecija business owners, entrepreneurs, freelancers, and taxpayers!

We’ve made our FATBAS (Free Accounting, Tax, and Business Advisory Services) even better!

✨ NEW: FREE SEMINARS have now been added to the program, giving you the opportunity not only to receive FREE one-on-one consultations with Certified Public Accountants but also to learn practical accounting, tax, and business topics that you can immediately apply to your business.

Whether you’re starting a business, managing an existing one, or simply looking to strengthen your financial and tax knowledge, this event is for you.

✅ FREE One-on-One CPA Consultation
✅ FREE Accounting, Tax & Business Advisory
✅ NEW: FREE Seminars
✅ Open to Business Owners, Entrepreneurs, MSMEs, Freelancers, Taxpayers, and Public Practitioners

📍 4F Activity Center, SM City Cabanatuan
📅 Tuesday, July 14, 2026
🕐 Starting at 1:00 PM

No registration fee. No appointment needed. Just walk in and learn from fellow CPAs who are committed to helping our local business community thrive.

We look forward to seeing you there!

08/07/2026

Visit us on July 14 at 4F SM City Cabanatuan Roofpark for our FATBAS activity. Free one-on-one consultation with us or our volunteer practitioners starting at 1PM. See you there!

📢 FREE Accounting, Tax & Business Advisory Services!

Are you a business owner, freelancer, startup, or taxpayer with questions about taxes, bookkeeping, or growing your business?

As part of the PICPA Cabanatuan Chapter's Accountancy Week Celebration, we are opening our doors to the public for FREE one-on-one consultations with Certified Public Accountants.

Whether you need guidance on:�✅ Tax compliance�✅ Bookkeeping�✅ Business registration�✅ Financial recordkeeping�✅ Business growth and advisory

our volunteer CPAs will be happy to assist you.

📍 Venue: 4F Activity Center, SM City Cabanatuan�📅 Date: Tuesday, July 14, 2026�🕐 Time: Starting at 1:00 PM

This service is FREE and open to MSMEs, entrepreneurs, freelancers, and taxpayers.

We look forward to serving our community and helping businesses move forward—one consultation at a time.

See you at SM City Cabanatuan!

15/05/2026

SEC suspends monthly penalties until 2026!

The Commission halts compounding fines for late or non-filing of reports, easing compliance costs and supporting business growth.

📣 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/

01/05/2026

🚨 ONLINE SELLER KA BA? READ THIS.
The Bureau of Internal Revenue just released RMC No. 38-2026 (April 29, 2026) — and YES, this applies to you if you sell or promote online!

Ano ang dapat mong gawin?
You must display your BIR Registration Seal Badge on your:
✔️ Website
✔️ Facebook / IG page
✔️ Online shop profile

It should be VISIBLE and SCANNABLE so customers can verify that your business is LEGIT. It is like the Facebook "verified badge" showing your clients and customers that your business is LEGIT.

Mas mainam kung maalam!

For more information, refer to the full RMC 38-2026 here: https://tinyurl.com/RMC038-2026

28/04/2026

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]