Ferrer & Saclolo CPA's

19/03/2025

𝗙𝗶𝗹𝗶𝗻𝗴 𝘀𝗲𝗮𝘀𝗼𝗻 𝗻𝗮 𝗻𝗮𝗺𝗮𝗻! 📄

The Securities and Exchange Commission (SEC) has released the schedule of filing of corporations’ annual financial statements (AFS) and general information sheets (GIS) for this year.

The Commission on March 3 issued SEC Memorandum Circular No. 1, Series of 2025, which provides for the 2025 Filing of Annual Financial Statements and General Information Sheet.

Stock and nonstock corporations with total assets or total liabilities of at least P600,000 are required to submit annual audited financial statements.

Branch offices or representatives of stock and nonstock foreign corporations with assigned capital or total assets, respectively, of at least P1 million, as well as regional operating headquarters of foreign corporations with total revenues of P1 million or more are also required to submit audited financial statements.

Corporations, which do not meet the aforementioned threshold, may submit their AFS duly certified by their treasurer or chief financial officer.

All stock and nonstock corporations are required to submit their AFS and GIS online through the SEC Electronic Filing and Submission Tool (eFAST) at efast.sec.gov.ph.

🔗 Read the full Memorandum Circular here: tinyurl.com/SEC2025FilingSeaon

19/03/2025

One app, all the tools you need!

Calculate costs, check legitimacy, and confirm the availability of your business or corporate name with just a few taps! ✅

Ready to get started? Download the SEC Check App now on the Apple App Store and Android Play Store 📲

18/03/2025

📣 𝗡𝗢𝗧𝗜𝗖𝗘: 𝗧𝗔𝗫 𝗜𝗗𝗘𝗡𝗧𝗜𝗙𝗜𝗖𝗔𝗧𝗜𝗢𝗡 𝗡𝗨𝗠𝗕𝗘𝗥 (𝗧𝗜𝗡) 𝗩𝗔𝗟𝗜𝗗𝗔𝗧𝗜𝗢𝗡 𝗙𝗢𝗥 𝗲𝗦𝗘𝗖𝗨𝗥𝗘 𝗔𝗡𝗗 𝗲𝗙𝗔𝗦𝗧

Please be advisedthat the Securities and Exchange Commission (SEC) will implement the Tax Identification Number (TIN) validation for the following online services starting March 17, 2025:

👉🏼 Electronic SEC Universal Registration Environment (eSECURE)
👉🏼 Electronic Filling and Submission Tool (eFAST).

Existing users of these online services will be required to validate their TINs, which may require updating of their records as follows:

👉🏼 For eSECURE: Updating the TIN
👉🏼 For eFAST: Updating the profile, including the TIN and birth date

If you are prompted that your TIN does not match or cannot be found, please verify your TIN through the Online Registration and Update System (ORUS) or check your records with the nearest BIR Revenue District.

Thank you.

17/03/2025

12/03/2025

RR No. 10-2025

Revenue Regulations No. 10-2025

Amending the Pertinent Provisions of Revenue Regulations No. 16-2005 to Implement the Value-Added Tax Provisions under Sections 106, 108, 109, and 112 the National Internal Revenue Code of 1997, as Amended by Republic Act No. 12066

For full text: https://tinyurl.com/2ea9hdum

12/03/2025

RR NO. 9-2025

Revenue Regulations No. 9-2025

Implementing Pertinent Provision of Section 295(D) of the National Internal Revenue Code of 1997 (Tax Code), as Amended by Section 18 of Republic Act No. 12066, Particularly on the Treatment of Local Sales of Goods and/or Services by Registered Business Enterprises (RBEs)

For full text: https://tinyurl.com/bdaevxrr

12/03/2025

RR No 8-2025

Revenue Regulations No. 8-2025

Implementing Sections 112(C) and 135-A of the National Internal Revenue Code of 1997, as Amended by Section 9 and 11 of Republic Act No. 12066 on the Procedures in the Resolution of Requests for Reconsideration on the Denial of Claims for Refund

For full text: https://tinyurl.com/eccry9zw

12/03/2025

RR Nom 7-2025

Revenue Regulations No. 7-2025

Implementing the Amendments to Sections 27, 28, and 34 of the National Internal Revenue Code of 1997, as Amended by Republic Act No. 12066

For full text: https://tinyurl.com/3cz5kn4s

12/03/2025

RR No. 6-2025

Revenue Regulations No. 6-2025

Implementing Section 135 on Petroleum Products Sold to International Carriers and Exempt Entities or Agencies and the new Section 135-A on Refund of Excise Tax on Petroleum Products of the National Internal Revenue Code of 1997, as Amended by Republic Act No. 12066

For full text: https://tinyurl.com/2xcde3hd

12/03/2025

RR No. 5-2025

Revenue Regulations No. 5-2025

Amending Revenue Regulations No. 2-98 Relative to the Withholding Tax Rates on Certain Income Payments Subject to Creditable Withholding Tax Pursuant to Section 57 of the National Internal Revenue Code of 1997, as Amended by Republic Act No. 12066

For full text: https://tinyurl.com/466fcfnt

12/03/2025

RR No. 4-2025

Revenue Regulations No. 4-2025

Further amending the "De Minimis" benefits provisions of RR No. 2-98, as amended, increasing the Clothing Allowance pursuant to RA No. 11975, the Fiscal Year 2024 General Appropriations Act, and Employees Achievement Awards

For full text: https://tinyurl.com/45nmy85t