GARN Accounting & Bookkeeping Services

10/08/2026

📢 𝐏𝐔𝐁𝐋𝐈𝐂 𝐀𝐃𝐕𝐈𝐒𝐎𝐑𝐘 | 𝐄𝐗𝐓𝐄𝐍𝐒𝐈𝐎𝐍 𝐎𝐅 𝐓𝐀𝐗 𝐃𝐄𝐀𝐃𝐋𝐈𝐍𝐄𝐒

In view of the continued heavy rainfall brought about by the Southwest Monsoon, the Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 089-2026, extending certain tax filing, payment, and submission deadlines for taxpayers within affected Revenue District Offices.

📌 𝐄𝐗𝐓𝐄𝐍𝐃𝐄𝐃 𝐃𝐄𝐀𝐃𝐋𝐈𝐍𝐄: 𝐀𝐔𝐆𝐔𝐒𝐓 𝟏𝟕, 𝟐𝟎𝟐𝟔

For the complete details and coverage, please refer to
𝐑𝐌𝐂 𝐍𝐨. 𝟎𝟖𝟗-𝟐𝟎𝟐𝟔.

05/08/2026

🚨 IF A BUSINESS OWNER PASSES AWAY, DOES THE BUSINESS DIE TOO?

Many business owners assume that their business automatically continues after they pass away.

For a Sole Proprietorship, the answer is generally NO.

Here's why.

📌 A Sole Proprietorship Has No Separate Legal Personality

Under Philippine law, a sole proprietorship and its owner are considered one and the same.

This means the business exists only as long as the owner does.

When the owner passes away:

❌ The sole proprietorship ceases to exist.

❌ The DTI registration is no longer valid for operating under the deceased owner.

❌ The BIR registration and other permits must be addressed through the proper legal process.

❌ The business assets and liabilities become part of the owner's estate and are subject to estate settlement.

👨‍👩‍👧 What Can the Family Do?

If the heirs wish to continue the business, they should:

✅ Settle the estate in accordance with applicable laws.

✅ Coordinate with the appropriate government agencies regarding the closure or updating of registrations, where required.

✅ Register a new business under the new owner (or follow the appropriate legal process if another business structure will be used).

Example

Juan owns Juan's Sari-Sari Store as a sole proprietorship.

If Juan passes away, the sole proprietorship does not automatically transfer to his children.

If the family wants to continue the store, they will generally need to complete the appropriate legal and registration requirements before operating under a new owner.

⚠️ Why This Matters

Continuing to operate using registrations issued solely in the name of a deceased proprietor may create legal and regulatory issues.

The appropriate steps depend on the specific circumstances, so it's important to seek professional guidance and coordinate with the relevant government agencies before continuing operations.

💬 Business continuity is more than keeping the doors open—it also means ensuring the business remains legally compliant.

If you have questions about business registration, permit updates, tax compliance, or succession planning, feel free to send us a message.

📌 Follow more for practical tips on Philippine business compliance.

21/05/2026

📢 BIR UPDATE: Smaller Tax Cases May No Longer Be Priority for Collection

Under Revenue Memorandum Order No. 011-2026, the BIR increased the “Cost to Collect Threshold” from ₱20,000 to ₱80,000.

✅ Before: Cases worth ₱20k and above may be pursued for collection
✅ Now: Threshold increased to ₱80k

What does this mean? 🤔

The BIR is now prioritizing larger tax delinquency cases and reducing resources spent on smaller collectible accounts.

BUT TAKE NOTE ❗
This does NOT mean:
❌ Taxes below ₱80k are automatically cancelled
❌ Penalties are removed
❌ Tax compliance is no longer required

Tax obligations still exist. This update simply helps the BIR focus collection efforts on higher-value cases.

This may affect:
• Freelancers
• Self-employed individuals
• Small businesses
• Taxpayers with old open cases or assessments

Still best to stay compliant and settle tax issues properly 👍

Send a message to learn more

19/05/2026

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

Ctto

19/05/2026

𝗕𝗜𝗥 𝗘𝗟𝗘𝗖𝗧𝗥𝗢𝗡𝗜𝗖 𝗔𝗨𝗗𝗜𝗧𝗘𝗗 𝗙𝗜𝗡𝗔𝗡𝗖𝗜𝗔𝗟 𝗦𝗧𝗔𝗧𝗘𝗠𝗘𝗡𝗧𝗦 (𝗘𝗔𝗙𝗦) 𝗧𝗔𝗫 𝗔𝗗𝗩𝗜𝗦𝗢𝗥𝗬 𝗨𝗣𝗗𝗔𝗧𝗘!

08/05/2026

Tax Advisory: Delay/Non-receipt of system generated email confirmation from eBIRForms.

Guidelines below.