Alas Oplas & Co., CPAs - Quezon Province

15/04/2026

𝗕𝗜𝗥 𝗣𝗨𝗕𝗟𝗜𝗦𝗛𝗘𝗦 𝗨𝗣𝗗𝗔𝗧𝗘𝗗 𝗟𝗜𝗦𝗧 𝗢𝗙 𝟮,𝟮𝟲𝟯 𝗩𝗔𝗧-𝗘𝗫𝗘𝗠𝗣𝗧 𝗠𝗘𝗗𝗜𝗖𝗜𝗡𝗘𝗦

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 27-2026 on April 8, 2026, publishing the FDA-endorsed full list of VAT-exempt drugs under Republic Act No. 10963, or the TRAIN Law, and Republic Act No. 11534, or the CREATE Act.

The Food and Drug Administration Philippines (FDA) of the Department of Health (Philippines) endorsed the updated list of 2,263 VAT-exempt drugs for the treatment of the following illnesses: 702 for cancer, 535 for hypertension, 327 for diabetes, 300 for mental illness, 171 for high cholesterol, 152 for kidney disease, and 76 for tuberculosis.

In line with President Ferdinand R. Marcos Jr.’s directive to make healthcare more accessible and affordable for Filipinos, the Department of Finance, under Finance Secretary Frederick D. Go, supports the timely implementation of measures that help reduce the cost of essential medicines.

BIR Commissioner Charlito Martin R. Mendoza said, “This issuance forms part of the government’s continuing efforts to help ease the cost of essential medicines, especially for Filipinos managing chronic and critical illnesses.”

RMC No. 27-2026 further provides that the updated list supersedes previous revenue memorandum circulars issued on the matter and shall remain in effect until new updates are endorsed by the FDA.

You may access the full text of RMC No. 27-2026 here(https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2027-2026.pdf), while the complete list of VAT-exempt medicines is available through Annex A of the circular (https://bir-cdn.bir.gov.ph/BIR/pdf/Annex%20A%20of%20RMC%20No.%2027-2206%20(1).pdf).

25/02/2026

⚠️ 𝗔𝗗𝗩𝗜𝗦𝗢𝗥𝗬: 𝗥𝗘𝗣𝗢𝗥𝗧𝗘𝗗 𝗩𝗜𝗢𝗟𝗔𝗧𝗜𝗢𝗡𝗦 𝗖𝗢𝗠𝗠𝗜𝗧𝗧𝗘𝗗 𝗕𝗬 𝗜𝗡𝗗𝗜𝗩𝗜𝗗𝗨𝗔𝗟𝗦 𝗔𝗡𝗗/𝗢𝗥 𝗘𝗡𝗧𝗜𝗧𝗜𝗘𝗦 𝗜𝗡 𝗧𝗛𝗘 𝗖𝗥𝗘𝗔𝗧𝗜𝗢𝗡 𝗢𝗙 𝗔𝗡 𝗘𝗦𝗘𝗖𝗨𝗥𝗘 𝗔𝗖𝗖𝗢𝗨𝗡𝗧

The Securities and Exchange Commission (SEC) warns the public against fraudulent activities involving the creation of eSECURE accounts.

The eSECURE system is a secure credentialing service under the Commission’s eKYC module, which includes biometric verification and liveness detection. Each account is 𝘀𝘁𝗿𝗶𝗰𝘁𝗹𝘆 𝗽𝗲𝗿𝘀𝗼𝗻𝗮𝗹 and must be created and completed solely by the applicant.

The submission of false or manipulated biometric data, forged or misleading documents, and inaccurate personal information is strictly prohibited. Violators may be subject to appropriate regulatory actions, including fines under the Revised Corporation Code.

The public is strongly advised to personally open their eSECURE accounts and refrain from engaging third parties for this purpose.

Reports of similar fraudulent activities may be submitted to the Enforcement and Investor Protection Department at [email protected].

Read the full notice here: https://www.sec.gov.ph/advisories-2026/esecure-advisory/

18/02/2026

📣 𝗦𝗘𝗖 𝗜𝘀𝘀𝘂𝗲𝘀 𝗡𝗲𝘄 𝗚𝘂𝗶𝗱𝗲𝗹𝗶𝗻𝗲𝘀 𝗼𝗻 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀 𝗳𝗼𝗿 𝗢𝗻𝗲 𝗣𝗲𝗿𝘀𝗼𝗻 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗶𝗼𝗻𝘀

The Securities and Exchange Commission has released Memorandum Circular No. 10, series of 2026, providing updated guidelines on reportorial compliance and the scale of penalties to ensure uniform monitoring and enforcement.

These guidelines aim to strengthen compliance standards and support transparency under the Revised Corporation Code.

🔗 Read the full Memorandum Circular here: https://www.sec.gov.ph/mc-2026/sec-mc-no-10-series-of-2026/

01/11/2025

10/09/2025

The (SC) has reiterated that the donation of subdivision land to a local government unit (LGU) must be in writing and acceptance must be in the same deed or a separate instrument for ownership to be transferred.

In a Decision written by Associate Justice Jhosep Y. Lopez, the SC’s Second Division ruled that the Quezon City (QC) LGU failed to establish that the open spaces and road lots in Capital Park Homes Subdivision (CPHS) had been donated to the city for public use as it was not able to show a copy of any deed of donation as well as any proof of acceptance of such donation.

Rainier L. Madrid, a resident of subdivision behind CPHS and QC taxpayer, filed a petition to determine the nature and ownership of open spaces and road lots of CPHS. Originally intended for the exclusive use of CPHS homeowners, these properties have become accessible to the public.

Madrid alleged that the QC LGU use substantial public funds for the improvement of these properties while they were privately owned. He pointed out that VV Soliven, CPHS’ developer, failed to present proof that the properties had been donated to the QC LGU. He stressed that without proof of donation, the properties remain private and cannot be treated as public property.

The QC LGU maintained that under QC Ordinance No. 5852, series of 1964, subdivisions must dedicate 6% of their total open spaces for public use and turn these over to the city before any subdivision plan can be approved. It noted that CPHS’ subdivision plan was approved in August 1969, indicating that CPHS had complied with the ordinance.

Capital Park Homeowners Association, Inc. (CPHAI) admitted the absence of deed of donation but cited a board resolution stating that the properties were donated to the QC LGU.

CPHAI also questioned Madrid’s standing to file the petition, as he was allegedly not directly affected.

The Regional Trial Court (RTC) dismissed the petition for lack of cause of action and declared Madrid as not a real party-in-interest.

The Court of Appeals (CA) disagreed and recognized Madrid’s right to file the case since he could be affected by the alleged misuse of public funds. It held that the areas in question remain private property as there was no proof that the subdivision developer had donated them to the QC LGU.

The SC upheld the CA’s ruling, emphasizing that the QC LGU must prove a valid transfer of property in its favor. However, the LGU did not provide a deed of donation or any proof of acceptance, as required under the Civil Code.

The SC clarified that open spaces and road lots in subdivisions do not automatically become government property. LGUs cannot rely solely on ordinances or laws to claim ownership. A written donation is required to transfer ownership. Without it, the property remains private and cannot be claimed by the local government.

Read the full text of the press release at https://tinyurl.com/499tc8hm

Read the full text of the Decision at https://tinyurl.com/bde7hv7u

Copying of this content is subject to the SC PIO’s Credit Attribution Policy: https://sc.judiciary.gov.ph/credit-attribution-policy/.

31/08/2025

TIN & COR: No expiry, no worries

27/08/2025

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23/08/2025

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