Vercor Accounting Services

22/05/2026

📣 𝗘𝗮𝘀𝗶𝗻𝗴 𝘁𝗵𝗲 𝗰𝗼𝘀𝘁 𝗼𝗳 𝗱𝗼𝗶𝗻𝗴 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀: 𝗦𝗘𝗖 𝗴𝗿𝗮𝗻𝘁𝘀 𝗮𝗻𝗼𝘁𝗵𝗲𝗿 𝟮𝟱% 𝗰𝘂𝘁 𝗶𝗻 𝗰𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗱𝗮𝘁𝗮 𝗳𝗲𝗲𝘀

The Securities and Exchange Commission (SEC) has further reduced the cost of corporate document requests, granting an additional 25 percent discount under Memorandum Circular (MC) No. 18, Series of 2026, effective June 1, on the rates provided under MC No. 6, Series of 2025.

The new reduction comes on top of the 50 percent reduction earlier granted under MC No. 6, Series of 2025, on the rates provided under MC 10, Series of 2023, shortly after the assumption of SEC Chairperson Francis Lim in June 2025.

It underscores the commitment of the SEC to making corporate data more accessible and reducing the cost of doing business.

“The SEC remains committed to lowering the cost of government services and making corporate information more accessible through digitalization and efficient regulation,” Chairperson Lim said.

“This additional 25 percent reduction builds on the 50 percent cut we implemented in 2025 as part of our continuing effort to ease the burden on stakeholders and improve the ease of doing business. This is likewise the Commission’s meaningful contribution to the celebration of Ease of Doing Business Month,” he added.

Under the new rates, physical and authenticated copies of company filings, namely articles of incorporation (AOI) and by-laws; AOI or amended AOI; by-laws or amended by-laws; general information sheet; increase in capital stock; resolution; secretary’s certificate; board resolution; registration data sheet; and deed of assignment, may be requested for P750 each, down from the previous price of P1,000.

Authenticated copies of other documents may be purchased for P35 per page, down from P50 per page previously.

Plain copies of the same documents will cost P565 each, instead of the old rate of P750. Other documents will be priced at P20 per page, from P25 per page under the old rates.

For digital copies of the same types of documents accessible through the Electronic SEC Education, Analysis, and Research Computing Hub (eSEARCH), standard rates have been set at P470 for each authenticated copy and P280 for each plain copy. These represent a 25% reduction of the previous prices at P625 and P375, respectively.

Meanwhile, the standard rates for the use of the SEC API Marketplace—which allows the direct sending and ingestion of corporate data from one application to another—shall remain in effect. The SEC currently offers two packages for SEC API Services, priced at P10,000 for 100 API calls, and P50,000 for 1,000 API calls.

Read the full memorandum circular here: https://www.sec.gov.ph/mc-2026/sec-mc-no-18-series-of-2026further-reduction-of-fees-and-charges-for-it-related-services-under-sec-memorandum-circular-no-6-series-of-2025/

21/05/2026

𝐏𝐑𝐎𝐂𝐋𝐀𝐌𝐀𝐓𝐈𝐎𝐍 𝐍𝐎. 𝟏𝟐𝟔𝟒, 𝐬. 𝟐𝟎𝟐𝟔

Declaring Wednesday, 27 May 2026, a Regular Holiday Throughout the Country, in observance of Eid'l Adha (Feast of Sacrifice)

Visit the Official Gazette website: https://www.officialgazette.gov.ph/RJdUhv

19/05/2026

𝗕𝗜𝗥 𝗟𝗔𝗨𝗡𝗖𝗛𝗘𝗦 “𝗘𝗔𝗦𝗘 𝗢𝗙 𝗖𝗟𝗢𝗦𝗜𝗡𝗚 𝗕𝗨𝗦𝗜𝗡𝗘𝗦𝗦” 𝗚𝗨𝗜𝗗𝗘𝗟𝗜𝗡𝗘𝗦 𝗙𝗢𝗥 𝗧𝗔𝗫 𝗥𝗘𝗚𝗜𝗦𝗧𝗥𝗔𝗧𝗜𝗢𝗡 𝗖𝗔𝗡𝗖𝗘𝗟𝗟𝗔𝗧𝗜𝗢𝗡; 𝗧𝗔𝗫 𝗖𝗟𝗘𝗔𝗥𝗔𝗡𝗖𝗘 𝗥𝗘𝗟𝗘𝗔𝗦𝗘𝗗 𝗔𝗦 𝗙𝗔𝗦𝗧 𝗔𝗦 𝗧𝗛𝗥𝗘𝗘 𝗗𝗔𝗬𝗦

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 47-2026 on May 19, 2026, prescribing new guidelines to simplify the process for closing businesses and cancelling tax registration, as part of the implementation of Republic Act No. 11976, otherwise known as the “Ease of Paying Taxes Act.”

“This is our ‘Ease of Closing Business’ reform,” Commissioner Charlito Martin R. Mendoza said. “In line with President Ferdinand R. Marcos Jr.’s directive to make government services faster, better, and more responsive, and Finance Secretary Frederick D. Go’s push to make tax administration more investor-friendly and business-friendly, the BIR is making it easier for taxpayers who have already ceased operations to properly close their business and cancel their registration.”

“From improving the ease of doing business and the ease of paying taxes, this reform completes the BIR’s support for businesses through every stage of the business life cycle. If we make it easier to start and operate a business, then the government must also make it easier to properly close BIR registration once operations have already ceased,” he added.

Under RMC No. 47-2026, taxpayers who have already ceased operations may now apply for the closure or cancellation of their registration, either manually or electronically, through the Revenue District Office where their head office or branch is registered.

The Circular simplifies and standardizes documentary requirements. Together with the application form and the surrender of original BIR registration documents and permits previously issued to the business, taxpayers will only be required to submit two other document sets for closure: the list of ending inventory of goods and supplies, including capital goods for VAT-registered taxpayers, and the unused invoices, supplementary documents, and other unutilized accounting forms, together with their inventory.

Under the new guidelines, penalties for non-filing of tax returns shall no longer accrue once the taxpayer submits the complete documentary requirements for the closure or cancellation of registration. To prevent the further accumulation of open cases, the taxpayer’s registered form types shall likewise be placed under “deregistered” status upon submission of the complete requirements. Filing an application for the closure or cancellation of registration, however, does not preclude the Bureau from conducting an audit to determine any outstanding tax liabilities.

In addition, micro taxpayers shall not be subject to mandatory audit for closure and/or cancellation of business registration. Hence, tax clearances will be issued within three (3) working days from submission of complete documentary requirements for those with no open cases or outstanding liabilities. For micro taxpayers with open cases, tax clearance will be issued within three (3) working days from the submission of the complete documentary requirements and the payment of outstanding liabilities, including penalties.

Commissioner Mendoza encouraged taxpayers who have already ceased operations to avail themselves of the streamlined process to avoid the continued accumulation of penalties and to properly update their registration records with the Bureau.

Read the full RMC here:https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2047-2026.pdf

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

18/05/2026

Extension on filing of 2025 Audited Financial Statements and other attachments though EAFS facility..

‼️POLICY UPDATE‼️

📃RMC NO. 46-2026

Procedures and Deadline Extension on the Submission of 2025 Audited Financial Statements and Other Attachments Through the Electronic Audited Financial Statements System/Submission Facility

🔗Read the full RMC:
https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2046-2026.pdf

18/05/2026

‼️ATTENTION TAXPAYERS‼️

18/05/2026

BIR shifts focus to bigger tax cases

The Bureau of Internal Revenue is changing its collection strategy: stop spending too much effort chasing small delinquent accounts and go after bigger targets instead.

BIR Commissioner Charlito Martin Mendoza issued Revenue Memorandum Order No. 11-2026, raising the bureau’s “cost to collect” threshold from PHP 20,000 to PHP 80,000.

This means the BIR may now classify certain delinquent accounts as revenue losses if pursuing them would cost more than what the government can realistically recover.

In simple terms: if the chase is more expensive than the tax due, the BIR may let the small case go and shift resources to higher-value delinquencies.

The order takes effect immediately.

The move signals a practical enforcement pivot for the tax agency, which is under pressure to raise collections without wasting manpower, time and public funds on cases with little recovery value.

Will this help the BIR catch bigger tax cheats, or let too many small delinquents slip away?

15/05/2026

LAST DAY TO FILE!

The BIR is reminding taxpayers to pay their exact 2025 Annual Income Tax on the day of filing their Return.

Deadline: May 15, 2026

13/05/2026

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

In its meeting last 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). MC 6 provides the scale of fines and penalties for the late or non-filing of annual financial statements (AFS) and general information sheets (GIS) submitted by corporations registered with the Commission.

Read the full article in the comments section below.