Quinsay and Co., CPAs

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

30/04/2026

📢 IMPORTANT TAX ADVISORY:

2025 AITR Attachment Deadlines

Attention taxpayers!
Please be guided by the clarified schedule for the submission of attachments for your 2025 Annual Income Tax Returns (AITR).

To ensure a smooth and compliant filing process, please take note of the unified deadline for electronic submissions via the Electronic Audited Financial Statement (eAFS) system.

🗓️ THE KEY DEADLINE: MAY 15, 2026
Regardless of when you filed your return, the deadline for your attachments is now unified:
• Scenario 1: If you filed on or before April 15, 2026 (e.g., BIR Form No. 1701 for Individuals, Mixed Income, Estates, and Trusts).
• Scenario 2: If you filed on April 16, 2026, or later (within the extended filing period).

The Answer for Both: All applicable attachments must be submitted via eAFS no later than May 15, 2026.

Keep your records updated and ensure all necessary documents are uploaded on time to avoid penalties.

14/04/2026

📣Revenue Memorandum Circular No. 30-2026

Extension of the deadline for the Filing of 2025 Annual Income Tax Returns and Payment of the Corresponding Taxes Due Thereon Including Submission of Required Attachments.

06/04/2026

𝗕𝗜𝗥 𝗦𝗔𝗬𝗦 𝗖𝗥𝗢𝗦𝗦-𝗕𝗢𝗥𝗗𝗘𝗥 𝗦𝗘𝗥𝗩𝗜𝗖𝗘𝗦 𝗡𝗢𝗧 𝗔𝗨𝗧𝗢𝗠𝗔𝗧𝗜𝗖𝗔𝗟𝗟𝗬 𝗧𝗔𝗫𝗔𝗕𝗟𝗘 𝗜𝗡 𝗣𝗛

The Bureau of Internal Revenue (BIR) has issued a revenue memorandum circular (RMC) clarifying that income from cross-border services are not automatically subject to Philippine income tax, setting clearer guidelines for how such transactions should be assessed for income tax purposes.

The BIR’s RMC No. 024-2026 sets guidance on the proper application of earlier issuances following the Supreme Court (SC) ruling in Aces Philippines Cellular Satellite Corporation v. Commissioner of Internal Revenue, amid concerns that the rules were being applied beyond their intended scope.

As a general rule, income from services is taxed where the service is performed. While the SC ruling allows consideration of where the benefit of the service is enjoyed, or where the economic activity occurs, the BIR stressed that taxability must still be determined based on the specific facts of each case.

The circular directs revenue officers to assess service agreements as a whole and cautions against isolating a single activity as the sole basis for taxation. Any tax assessment must clearly state its legal and factual basis, in line with Section 228 of the Tax Code.

To support compliance, the BIR outlined documents that taxpayers may present during audits to show that services were performed outside the Philippines, including service contracts, proof of foreign performance, and tax residency certificates.

The issuance also clarifies that taxpayers are not required to secure a prior BIR ruling to claim the proper tax treatment of cross-border transactions, provided they can substantiate their position during assessment.

BIR Commissioner Charlito Martin R. Mendoza said the circular aims to ensure more consistent and fair application of tax rules.

“The circular ensures that both revenue officers and taxpayers apply the rules on cross-border services in line with law and jurisprudence. It reinforces our commitment to fair enforcement while providing clear guidance to taxpayers,” Mendoza said.

https://www.bir.gov.ph/2026-Revenue-Memorandum-Circulars

13/03/2026

21/01/2026

GIS
beneficial ownership reporting
January 30, 2026

📣 𝗡𝗢𝗧𝗜𝗖𝗘: 𝗟𝗮𝘂𝗻𝗰𝗵 𝗼𝗳 𝘁𝗵𝗲 𝗛𝗶𝗲𝗿𝗮𝗿𝗰𝗵𝗶𝗰𝗮𝗹 𝗮𝗻𝗱 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝗯𝗹𝗲 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗮𝗻𝗱 𝗕𝗲𝗻𝗲𝗳𝗶𝗰𝗶𝗮𝗹 𝗢𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝘆 (𝗛𝗔𝗥𝗕𝗢𝗥)

Starting January 30, 2026, all Beneficial Ownership Declaration (BOD) Pages shall now be submitted exclusively through the Hierarchical and Applicable Relations and Beneficial Ownership Registry (HARBOR).

All active authorized eFAST filers must maintain an active eFAST status, have an eSECURE account to access HARBOR, and use the 2026 version of the GIS, which no longer includes the BOD Page.

🔗 Read the full notice here: https://www.sec.gov.ph/notices/launch-of-the-hierarchical-and-applicable-relations-and-beneficial-ownership-registry-harbor/

16/01/2026

📢 ADVISORY

Please be informed that the eBIRForms System will experience intermittent connectivity due to system maintenance.

🗓 Period Covered:
January 17, 2026 | 5:00 PM
to
January 18, 2026 | 5:00 AM

All users are advised to plan their filing and submission of returns accordingly.
Thank you for your understanding.